Bill price target lowered to $110 from $130 at BofA

BofA lowered the firm’s price target on Bill to $110 from $130 and keeps a Buy rating on the shares after having calls with nearly a dozen Bill accounting partners to gauge new customer signings trends. The firm says it no longer views Bill as a top pick following Q1 results, though it is of the view that pressure is macro related and temporary and BofA believes that a reacceleration to 40%-plus growth is likely.