Salesforce shares rise after Bank of America upgrades to buy on AI momentum
Bank of America upgraded Salesforce to a buy rating, citing stronger monetization of its artificial intelligence offerings, prompting the stock to climb in early trading.
Salesforce (CRM) stock gained early Monday following a rating upgrade from Bank of America, which moved the shares to a buy recommendation. The bank highlighted improving trends in the company's AI product monetization as the primary factor behind the upgrade.
"We see accelerating adoption of Salesforce's AI-driven solutions and expect continued revenue growth from these offerings," a Bank of America analyst said. The upgrade contributed to a rise in Salesforce's share price on the Nasdaq, as investors responded to the positive outlook on the firm's AI initiatives.