10:42 AM EST, 11/13/2024 (MT Newswires) -- Salesforce's ( CRM ) Q3 deal activity is seen largely in-line and consistent with the previous quarter, BofA said in a Wednesday note based on feedback from the company's partners.

BofA said the company's new agent-focused platform Agentforce is generating "enthusiasm" in the market but "contribution to Q3/Q4 subscription revenue is not likely to be material."

The firm said it remains bullish on Agentforce's potential as it positions Salesforce ( CRM ) well within the artificial intelligence space for front-office applications.

"We model Agentforce generating an incremental 1% to 2% points of subscription growth in both fiscal year 2026 and fiscal year 2027," the firm added.

BofA raised its price objective on Salesforce's ( CRM ) stock to $390 from $325 and reiterated its buy rating.

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