Truist upgraded Bill (BILL) to Buy from Hold with a price target of $63, up from $50. The firm believes now is the time get bullish on Bill shares. The consensus revenue estimates have upside, Bill’s new activist shareholders, Elliott Management and Starboard, create “positive optionality,” and the stock offers a “catch-up trade” now that estimates have bottomed, the analyst tells investors in a research note. Truist believes BIll’s core revenue growth will trough next quarter and re-accelerate to the mid-teens as compares ease and the company’s embedded solutions partnerships begin to contribute to growth.
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