Procore price target raised to $80 from $65 at Scotiabank

Scotiabank raised the firm’s price target on Procore to $80 from $65 and keeps an Outperform rating on the shares after having hosted a call with a Procore consultant who specializes in configuring and implementing and is part of various technology groups who helps maximize digital transformation initiatives. The consultant contends digitizing in construction is “increasingly becoming a necessity, not a choice,” says the analyst, who cites multiple expansion amongst the peer group for the firm’s increased target.