JPMorgan analyst Tien-tsin Huang upgraded BTRS Holdings Inc. to Overweight from Neutral with a $15 price target, implying a 60.3 percent upside.
As shares are down 48 percent since late April, while revenue and gross profit estimates are relatively unchanged, Huang thinks valuation is more reasonable relative to the firm’s expectations of Billtrust being a solid high-teens to 20 percent up gross profit grower in the mid-term.
