Bill price target raised to $85 from $60 at Piper Sandler

Piper Sandler analyst Brent Bracelin raised the firm’s price target on Bill (BILL) to $85 from $60 and keeps an Overweight rating on the shares following quarterly earnings. The firm told investors that shares could be primed for a larger potential re-rating as investors contemplate a faster path to 20% core revenue growth and capacity for underlying leverage ex-float. Piper added that it is rolling forward its five-year valuation methodology as with the raised price target