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