Bill upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Chris Quintero upgraded Bill (BILL) to Overweight from Equal Weight with a $95 price target The firm says management’s new strategy puts Bill on a “better growth path as it addresses key shortcomings.” Improving small business spending, early execution against the strategy, and an “undemanding” valuation create an attractive entry point, the analyst tells investors in a research note. Morgan Stanley believes BIll’s new strategy better addresses its virtual card product shortcomings, expands payment capabilities, and pushes them into the more monetizable mid-market.