Bank of America double-upgrades Salesforce (CRM) to Buy from Underperform, raises price target to $285 from $160
What happened
Bank of America double-upgraded Salesforce to Buy from Underperform and raised its price target to $285 from $160, per Barron's stock-movers coverage on Monday. Shares advanced 2.7% to $235.29 following the call. The firm said Salesforce's enterprise artificial-intelligence strategy has reduced the risks of AI disruption to its business, adding that large enterprises are unlikely to replace platforms like Salesforce that contain their business logic and data.
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Start your free 14-day trialWho’s affected
- Salesforce (CRM) - directly upgraded, $285 target implies roughly 21% upside from $235; broader enterprise software / SaaS complex (MSFT, ORCL, NOW) - AI-disruption risk repriced
Sources