Salesforce could see a significant boost as it integrates artificial intelligence into its core business offerings, according to Bank of America. The financial institution double upgraded the stock to “buy” from “underperform” and raised its price target to $285 from $160, representing a 24% increase above the stock’s last closing price.
“Large enterprises are unlikely to replace platforms that house their business logic, data, workflows, and compliance frameworks,” analyst Tal Liani said Monday. “If anything, AI should deepen dependence on these platforms.”
Shares of Salesforce have pulled back about 14% in 2026, largely due to investors’ fears that widening AI adoption could diminish demand for software tools. However, Salesforce is embracing an enterprise AI strategy that should allow it to attract more customers to its platform, per Bank of America. “Our positive view on Salesforce’s AI strategy and its potential to expand enterprise spending on the platform, together with strong free cash flow generation and expected growth reacceleration, drives our upgrade and supports a modest valuation premium,” Liani wrote.
Salesforce earlier this year launched an initiative to develop, test, and validate AI technology for its enterprise offerings. Two years earlier, the company also unveiled its army of thousands of autonomous AI-powered agents called Agentforce. To be sure, Salesforce’s AI revenue is still small, and slower-than-expected adoption remains the greatest near-term risk for the stock, according to Liani. “However, we see encouraging signs of improving momentum, including strong net new annual order value growth and accelerating Slack performance, which support a return to faster growth over the coming quarters,” the analyst wrote.
Bank of America’s call falls in line with consensus on the Street. Of the 51 analysts covering Salesforce, 36 have a buy or strong buy rating on the stock, LSEG data shows.
