Bill initiated with a Hold at Truist

Truist analyst Matthew Coad initiated coverage of Bill (BILL) with a Hold rating and $47 price target There is a lot to like about the Bill story, as the B2B growth runway is long, but core revenue growth needs to re-accelerate to the mid-to-high teens while operating expense growth slows meaningfully for the current valuation to be considered attractive, the analyst tells investors in a research note. The firm views Bill as a potential takeover target, but sees better value elsewhere.