Salesforce Rises After Bank of America Upgrades Stock -- WSJ

Dow Jones2026/10/12 16:30

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By Vicky Ge Huang

Shares of Salesforce rose Monday after Bank of America issued a vote of confidence in the stock, citing an AI strategy designed to protect the company from being disintermediated.

The bank upgraded the stock to "buy" from "underperform" and raised its target price to $285 from $160.

While there have been concerns that AI could render traditional enterprise software companies obsolete, BofA analysts noted that large corporations are unlikely to replace platforms that house their business logic, data, workflows and compliance frameworks. The upgrade was further supported by Salesforce's strong free cash flow and expected accelerating revenue growth.

The gain in Salesforce helped lift the Dow Jones Industrial Average, which was up about 0.5% Monday, outpacing both the S&P 500 and the Nasdaq composite.

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(END) Dow Jones Newswires

October 12, 2026 12:30 ET (16:30 GMT)

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On Tuesday, Jay Clayton, Director of National Intelligence and Head of Artificial Intelligence Affairs in the United States, was asked during an interview when recommendations regarding AI would be made. He responded: "We will be rolling them out," but added that he could not commit to an exact date. On October 16, the newly established AI Special Task Force led by Jay Clayton under the Trump administration held its first meeting, with the task force officially operating for a term of 120 days.

华尔街见闻•2026/10/20 21:01