The firm has a $33 price target on shares of the Federal Way, WA-based real estate investment trust.
D.A. Davidson said the recent pullback in the stock presents a buying opportunity.
"While Britain's decision to exit the European Union has added increased volatility and uncertainty to global equity markets, we believe that WY's primarily domestic focused business will allow fundamentals to stay well-insulated from the outside noise," the firm wrote in an analyst note.
U.S. housing starts can reach 1.5 million and Weyerhaeuser can capitalize on this growth, according to the firm's analysts.
"Investing in WY is principally a play on the domestic housing recovery and U.S. timberland asset class; both, in our opinion, relatively uncorrelated to the risk and uncertainty percolating from the 'Brexit' vote," D.A. Davidson noted.
Additionally, in the case of an economic slowdown in the U.S., the REIT's liquidity and attractive dividend would allow shares to outperform peers.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth and reasonable valuation levels. The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: WY