Bill.com Shares Rise As Truist Upgrades To Buy

Group 1 - Truist Securities upgraded Bill.com Holdings Inc. from Hold to Buy and raised its price target to $63 from $50, resulting in a share price increase of over 1% [1] - The bullish stance is based on three factors: potential upside to Street revenue forecasts, optionality from activist involvement by Elliott Management and Starboard Value, and expectations for a rebound in sentiment as estimates have bottomed [1] - Bill.com has been the worst-performing stock in its coverage group this year, indicating potential for a "catch-up trade" [2]