Dropbox price target raised to $35 from $32 at KeyBanc

KeyBanc analyst Thomas Blakey raised the firm’s price target on Dropbox to $35 from $32 and keeps an Overweight rating on the shares. Dropbox reported a beat and raise financial update for Q2, and KeyBanc tells investors in a research note that Dropbox is well-positioned to benefit from AI trends and monetizing new products as the company should leverage its success in bundling and adding new products to its expansive user base of 18M+ users driving free cash flow higher.