BIM mandates can be ongoing tailwind for Autodesk, Procore, says Stifel

Stifel notes that the U.S. Department of Transportation’s Federal Highway Administration, or FHWA, announced that the application period for the first phase of a multi-year, $85M grant program, called the Advanced Digital Construction Management Systems, or ADCMS, has officially opened up. The grant is designed to increase the use of digital construction techniques, including computer modeling and 3D design, in project delivery by state departments of transportation, notes the analyst, who believes “an announcement like this is a reminder of positive secular tailwinds supporting ongoing efforts to digitize the construction lifecycle.” This, along with other Building Information Modeling, or BIM, mandates globally, can serve as an ongoing tailwind that should benefit both Autodesk (ADSK) and Procore (PCOR), says the firm, which has Buy ratings on both stocks.