Bank of America upgrades Cloudflare to "buy," predicting it will lead in AI, boosting stock 6%.

Bank of America upgraded Cloudflare's stock to a "buy" rating, predicting it could become a leader in AI services. The upgrade, citing strong growth potential in AI and security, raised the stock price target to $160 from $60, leading to a 6% rise in pre-market trading. Cloudflare is gaining popularity over competitors like Amazon and Microsoft in AI services, with projected 30% growth by 2028.