Procore price target raised to $90 from $76 at BMO Capital

BMO Capital analyst Daniel Jester raised the firm’s price target on Procore to $90 from $76 and keeps an Outperform rating on the shares. The company’s “solid” Q4 results showed efficient execution amidst an ongoing uneven macro backdrop for construction customers, the analyst tells investors in a research note. Based on the fears that growth would moderate more quickly, Procore also guided the forward year “prudently”, with the potential for modest upside tension, the firm added.