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Bank of America upgrades Salesforce to Buy after Loops deal
The investment bank also set a $285 price target and flagged Salesforce’s $25 billion buyback plan and Agentforce growth as part of its valuation case.
Enterprise software stocks have faced pressure this year as investors have questioned whether traditional cloud providers can monetize AI, a backdrop that has weighed on Salesforce. Salesforce, which is down about 12% year to date, has seen investor sentiment shift as new developments emerge. Bank of America issued a rare double upgrade for Salesforce, raising its rating from Underperform to Buy and setting a $285 price target. The upgrade followed Salesforce’s agreement to acquire Loops, an AI-powered analytics platform, for an estimated $30 million. MarketBeat Ratings notes that the analyst action comes alongside company-focused catalysts, including improving Agentforce revenue growth and Salesforce’s $25 billion buyback program. The material also describes the Loops acquisition as a step to move Salesforce’s AI capabilities from experimentation toward more measurable growth, with the aim of enhancing Tableau and Slack.