BofA Securities raised price targets on 10 software stocks, signaling that investor concerns about artificial intelligence making traditional software obsolete may be easing. The bank did not increase its earnings forecasts; instead, it raised the valuation multiples investors may be willing to pay for those earnings. BofA analysts Tal Liani, Koji Ikeda and Matt Bullock lifted targets for ServiceNow from $130 to $150, Figma from $30 to $33, Workday from $140 to $205, Adobe from $190 to $220, Snowflake from $330 to $395, GitLab from $38 to $45, Amplitude from $12 to $14, Box from $37 to $39, Asana from $9 to $10.75 and Zeta Global Holdings from $29 to $34. Liani wrote that the bank remained selective, favoring stronger growth profiles and emerging AI monetization opportunities. ServiceNow, Figma and Snowflake offered evidence of that trend through growth, AI usage or cash-generation prospects. ServiceNow's second-quarter current remaining performance obligations grew 21.5%, subscription revenue increased 23% and AI annual contract value surpassed $1 billion. Figma's second-quarter revenue rose 48.2% year over year, while more than 80% of customers with over $10,000 in annual recurring revenue were consuming AI credits weekly. BofA forecasts Snowflake's calendar 2027 revenue growth at 22%, compared with 11% for infrastructure software peers, and expects a 25% free cash flow margin versus 18% for peers. Adobe remains a counterexample: BofA raised its target but kept an Underperform rating, expects revenue growth to slow from 10.5% in fiscal 2025 to 8.8% in fiscal 2027 and 8.7% in fiscal 2028, and said AI-first annual recurring revenue remains below 2% of total ARR. Adobe's consensus rating is Neutral, with an average price target of $280.36 and individual estimates ranging from $190 to $475, according to Benzinga Analyst Ratings data. BofA's new target remains roughly 20% below where Adobe's stock trades. The analysis frames the next phase of the software rally around which companies can turn AI into faster growth, higher usage and stronger cash generation.