ServiceNow investors must consider latest alert from Bank of America

ServiceNow investors must consider latest alert from Bank of America Mwangi Enos Fri, August 21, 2026 at 1:33 PM EDT 5 min read NOW Back in May, I covered Bank of America analyst Tal Liani' s initial Buy call on ServiceNow (NOW) with a $130 price target.  His core argument was that Artificial Intelligence (AI) is the strongest tailwind ServiceNow has ever seen, not an existential threat to its business. The stock hit that target. Liani came back with a higher one. On Aug. 19, Liani raised his price target to $150 from $130 while maintaining his Buy rating, according to a note shared with TheStreet. His reasoning this time centers on three things: Broad-based software multiple expansion; Improving growth at select infrastructure names; Easing concerns that AI would disrupt enterprise software businesses. Crucially, his fundamental estimates on ServiceNow itself haven't changed. The re-rating is about sentiment catching up to reality. That's an important distinction. Liani isn't saying the business got better. He's simply saying the market was wrong to penalize it as much as it did, and is beginning to correct that mistake. Also Read: ServiceNow Inc. Latest News and Stories Why the AI disruption fear around ServiceNow was always overstated The narrative that weighed on enterprise software stocks earlier in 2026 went something like this: if AI agents can automate workflows, why would companies pay for platforms like ServiceNow to manage those workflows? It's a surface-level…