Salesforce Gets Rare Double Upgrade From Bank of America: ‘AI Should Deepen Dependence,’ Analyst Says
Key takeaways
- Bank of America’s double upgrade of Salesforce to Buy with a $285 target signals an upbeat view that AI will strengthen, not replace, its platform, boosting revenue outlooks and valuation multiples.
- $285 price target
- $160 original target
- $229.13 Friday close
What happened
The upgrade followed a shift in the analyst’s view that AI will deepen dependence on Salesforce’s platform rather than disintermediate it. Salesforce shares rose roughly 3% to around $235 on Monday, after touching $240.90.
Why it matters
The new target reflects a belief that Salesforce’s four‑layer AI strategy—data, core apps, Agentforce, and interfaces like Slack and Anthropic’s Claude—will drive higher recurring revenue and strengthen platform lock‑in. Bank of America now projects $50.9 billion in fiscal 2028 revenue and $55.98 billion in fiscal…
Short-term and longer-term
Short-term. In the next few days, watch for price action around the $240–$250 range as the market digests the $285 target.
Longer-term. Over the coming months, the upgraded revenue and valuation assumptions will shape long‑term investment theses.