Dropbox price target raised to $32 from $27 at KeyBanc

KeyBanc analyst Thomas Blakey raised the firm’s price target on Dropbox to $32 from $27 and keeps an Overweight rating on the shares. The firm believes its price target is warranted provided continued sustainable profitable growth and solid free cash flow production at Dropbox, driven by growth and monetization of the user base and share buybacks.