TD Cowen initiated coverage of Bill with a Buy rating and $43 price target. Bill is a leading accounts payable, accounts receivable, and expense management solutions vendor for small businesses, the analyst tells investors in a research note. The firm says the company's improving fundamentals warrant multiple expansion amid "muted" investor sentiment with the shares down 40% year-to-date. TD expects a "steadier upward trajectory for shares on the horizon driven by improving fundamentals and execution."
