Salesforce is poised for a potential rebound as it integrates artificial intelligence into its offerings, according to Bank of America, which has upgraded the stock from underperform to buy and increased its price target from $160 to $285. This new target represents a 24% upside from the stock's recent closing price.
Analyst Tal Liani noted that large enterprises are unlikely to abandon their existing platforms, suggesting that AI will enhance rather than replace these systems. Despite a 14% decline in Salesforce's shares in 2026, driven by concerns over AI adoption impacting software demand, the company is focusing on an enterprise AI strategy that could attract more customers.
Salesforce's recent initiatives, including the development of AI technology and the introduction of autonomous AI agents called Agentforce, indicate a commitment to leveraging AI for growth. While current AI revenue remains modest and adoption risks persist, Liani highlighted signs of improving momentum, such as strong growth in net new annual order value and better performance from Slack.
The consensus among analysts is positive, with 36 out of 51 recommending a buy or strong buy rating for Salesforce