Dropbox price target lowered to $30 from $35 at RBC Capital

RBC Capital lowered the firm’s price target on Dropbox (DBX) to $30 from $35 and keeps an Outperform rating on the shares. The company reported mixed Q4 results, with limited proof-points of Dash traction and continued declines in the business, the analyst tells investors in a research note. Investors will want to see more concrete proof-points of Dash adoption/monetization to justify incremental investments and a failure to return to growth may make valuation less compelling, the firm adds.