BofA Raises Price Targets for ServiceNow, Figma, and Snowflake
Bank of America (BofA) has raised its price objectives on several prominent software stocks, including ServiceNow (NOW), Figma (FIG), and Snowflake (SNOW). The adjustment was led by analysts under Tal Liani. They cited a broad-based multiple expansion in the software sector as the primary reason for raising these targets. The move reflects growing optimism about valuations within the tech industry despite no changes to earnings estimates or fundamentals of the companies involved. This suggests that BofA is factoring in higher investor sentiment and broader market dynamics into its revised outlooks.
