Bill initiated with a Buy at Citi

Citi initiated coverage of Bill (BILL) with a Buy rating and $71 price target Bill presents a compelling value add for its customers via supplying dedicated software that assists with financial transaction organization and reconciliation, and providing an integrated B2B payments experience that we think is superior to traditional methods, the analyst tells investors in a research note. Active investors Starboard Value and Elliott Management should help the company focus on accelerating KPIs, the firm adds.