Keefe Bruyette analyst Sanjay Sakhrani says Xero Limited’s acquisition of Melio for an upfront consideration of $2.5B in cash and equity is a positive read-across to Bill‘s (BILL) current market capitalization. However, Xero’s acquisition of Melio will add to questions around Bill’s capabilities and should increase competition, the analyst tells investors in a research note. Keefe keeps a Market Perform rating on Bill with a $54 price target The stock in premarket trading is up 1% to $45.60.
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