The artificial-intelligence disruption fear for Salesforce could be over, according to Bank of America.

Salesforce stock rose 4.1% to $238.50 in premarket trading on Monday after ending Friday up 0.6% at $229.13. The software stock has fallen 14% this year as of the closing bell on Friday with investors concerned AI could disrupt software offerings broadly.

But the AI overhang on Salesforce might truly be over as shares have advanced 53% since closing at $150.12 on June 22.

Bank of America analyst Tal Liani, for one, seems to believe that Salesforce stock isn't at risk anymore as the company's enterprise AI strategy has reduced risks.

Liani double-upgraded Salesforce stock to Buy from Underperform with a price target of $285, up from $160. That updated price target represents 24% from the closing on Friday.

Liani said in a research note that his main concern for Salesforce has centered on AI disruption, but that following conversations with market participants the analyst believes that large enterprises are "unlikely to replace platforms that house their business logic, data, workflows, and compliance frameworks."

"If anything, AI should deepen dependence on these platforms," Liani said

The analyst added that Salesforce has a solid AI strategy, strong free cash flow generation, and that revenue growth is expected to reaccelerate.

"We believe Salesforce offers one of the most comprehensive approaches to enterprise AI adoption," Liani said in the research note.

"AI revenues remain small and the primary near-term risk is slower-than-expected adoption curve. However, we see encouraging signs of improving momentum," he added.

A double upgrade for Salesforce was quite the change in sentiment for the stock. Investor concern around Salesforce and other software stocks has been ramped up this year on fears of the so-called "SaaSpocalypse," which refers to the impact of AI on the software-as-a-service (SaaS) industry.

In June, Barron's said it no longer recommends Salesforce after making it a stock pick in December. Salesforce stock, however, has risen 34% since closing at $170.92 on June 10.