BILL rises after Truist upgrades to 'buy'

** Financial automation software company BILL Holdings' BILL.N shares rise 1.5% to $53.36

** Truist Securities upgrades stock to "buy" from "hold"; raises PT to $63 from $50, representing a 20% upside to last close

** Brokerage says it is the right time to get bullish on BILL as there is upside to Street's core revenue growth forecasts

** New activist shareholders building sizable long positions in BILL is also a net positive - Truist

** Brokerage sees the company as an attractive buyout target, especially after peers Melio and AvidXchange AVDX.O were recently purchased at a premium valuation to BILL

** 14 of 25 brokerages rate the stock "buy" or higher and 11 "hold"; median PT $55 - data compiled by LSEG

** As of last close, BILL shares down 38% YTD