Bank of America upgrades Salesforce to Buy and lifts price target to $285
+3 new sources since this summary was written
Bank of America raised its rating on Salesforce from Underperform to Buy and increased its price target to $285. The upgrade was driven by the view that AI will deepen enterprise reliance on Salesforce’s platforms rather than displace them. Following the note, Salesforce shares rose about 3% in pre‑market trading, reaching $236.83.
Why it matters
The higher rating and $285 target suggest upside for investors, as the stock is now trading below the new target price. BofA also raised its revenue growth outlook for fiscal 2028 and 2029 to 10.4% and 10.5%, respectively, which could support future earnings growth.
Key facts
- 1Bank of America upgraded Salesforce to Buy from Underperform and set a price target of $285. marketscreener.com
- 2The upgrade cited AI’s role in entrenching Salesforce’s platforms and strong free cash flow generation. investing.com
- 3Salesforce shares rose about 3% in pre‑market trading to $236.83. 247wallst.com
- 4BofA expects revenue growth of 10.4% in fiscal 2028 and 10.5% in fiscal 2029. tradingview.com
- 5Salesforce’s Q2 FY27 revenue grew 10.8% to $11.35 billion. 247wallst.com
- 6Agentforce annual recurring revenue exceeded $1.5 billion, up over 240% year over year. 247wallst.com
Summary written by AlphAI AI Desk from 14 of 14 sources. Not investment advice. Figures are as stated by the linked sources.