Bank of America upgrades Salesforce on AI strategy, lifts target to $285

what happened

CNBC reports that Bank of America raised Salesforce by two rating steps, moving from underperform to buy, and lifted its price target from $160 to $285. The new target is 24% above the level at which the shares last closed. Salesforce stock has fallen about 14% in 2026, largely because investors fear broader AI adoption could weaken demand for software tools.

Analyst Tal Liani said large enterprises are unlikely to abandon platforms that contain their business logic, data, workflows and compliance frameworks. Bank of America expects Salesforce’s enterprise AI strategy to bring more customers onto its platform. Earlier this year, Salesforce launched a program to develop, test and validate AI technology for its enterprise products. Two years earlier, it introduced Agentforce, a group of thousands of autonomous AI-powered agents.

Salesforce’s AI revenue remains small, while slower-than-expected adoption is still the biggest near-term risk for the stock, Liani said. The bank nevertheless pointed to better operating momentum, citing growth in new annual order value and stronger performance at Slack. LSEG data shows that 36 of the 51 analysts covering Salesforce rate the shares buy or strong buy.

why it matters

The upgrade could improve sentiment toward Salesforce, while the company’s valuation and growth outlook remain tied to the pace of enterprise AI adoption.

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