Bill price target raised to $65 from $60 at UBS

UBS analyst Taylor McGinnis raised the firm’s price target on Bill (BILL) to $65 from $60 and keeps a Buy rating on the shares. Bill’s Q3 print showed signs of macro pressures, and the firm is now modeling 12% year over year core revenue growth for Q4, which assumes further deceleration in core total payment volume per customer growth, the analyst tells investors in a research note. UBS believes slowdown is already embedded in the stock and if there’s any indication that near-term macro concerns are overblown or self-help initiatives materialize, sees upside.