Box initiated with a Buy at BofA

BofA initiated coverage of Box (BOX) with a Buy rating and $40 price target As the “leading enterprise data repository,” the firm thinks Box is well positioned for AI monetization opportunities, the analyst tells investors. Enterprise headwinds like tighter budgets and right-sizing headcounts are fading, yet the valuation “still reflects an overly bearish view” of revenue growth and margin expansion potential, the analyst argues.