BUZZ - Bank of America double upgrades Salesforce to "Buy"; stock rises

October 12 - ** Bank of America Global Research upgraded Salesforce (CRM.N) by two notches from "underperform" to "buy"; price target raised from $160 to $285

** Shares of the enterprise software provider rose more than 4% in pre-market trading to $238.60

** Bank of America said the market's concerns about AI-driven "disintermediation" are easing, adding that large enterprises are unlikely to replace platforms that carry their business logic, data, workflows, and compliance frameworks

** "If anything, AI will deepen reliance on these platforms," said Bank of America

** The average rating of 52 analysts is "buy"; median price target is $290 — data compiled by LSEG

** The stock has fallen 13.5% so far this year, while the S&P 500 index has risen 14.11% over the same period .SPX

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