ServiceNow Surges 14%! BofA Raises Target: Still Buy at $110?
ServiceNow (NOW) gained another 8.78% today after Bank of America issued a significant price target upgrade, triggering immediate institutional buying; CNBC's framing of NOW as an 'AI-irreplaceable' core holding further accelerated inflows. The two-day rally exceeds 14%, decisively clearing the $100 psychological level. Rotation from AI infrastructure into AI application and workflow software is gaining momentum, though surging valuations are entering elevated territory. Will BofA's upgrade prompt other institutions to follow suit — or has this rotation already run too hot?