- Salesforce shares rose over 5% after Bank of America upgraded the stock to Buy
- Bank of America raised Salesforce's price target to $285 from $160
- Analyst Tal Liani expects AI to deepen reliance on Salesforce's enterprise platforms
Salesforce shares jumped 5.15% from the previous close (and gained 1.80% from the open) during Monday's session before trimming gains, as Bank of America double-upgraded the software company to Buy from Underperform, citing the potential for artificial intelligence (AI) to strengthen demand for its enterprise platforms.
The stock was trading at $234.26, up $5.15, or 2.25%, at 11:29 am GMT-4 on October 12, according to market data. It touched an intraday high of $240.90, representing a 5.15% surge from the previous close of $229.11 (and a 1.80% gain from the opening price of $236.65).
According to CNBC, Bank of America also raised its price target to $285 from $160. The revised target implies an upside of around 24.2% from Salesforce's previous closing price of $229.11.
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Analyst Tal Liani argued that large enterprises are unlikely to abandon software platforms that manage their business logic, data, workflows and compliance requirements. Instead, he expects AI adoption to deepen companies' dependence on these systems.
“Large enterprises (more than small to medium-sized businesses) are unlikely to replace platforms that house their business logic, data, workflows and compliance frameworks,” Liani said on Monday. “If anything, AI should deepen dependence on these platforms.”
The upgrade comes as Salesforce shares have fallen around 14% in 2026, reflecting investor concerns that wider AI adoption could weaken demand for traditional software tools.
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Bank of America's revised outlook suggests that the integration of AI into existing enterprise software could help Salesforce defend its position and create additional value for customers.
The key question for investors is whether the company can translate AI integration into stronger growth and earnings, particularly as markets reassess the long-term impact of artificial intelligence on the software industry.
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