Dropbox price target raised to $28 from $27 at BofA

BofA raised the firm’s price target on Dropbox (DBX) to $28 from $27 and keeps an Underperform rating on the shares. Dropbox delivered a better-than-expected quarter, driven by improving fundamentals across its core business, but despite the improving momentum of the core business, lagging Dash monetization and Dash-related margin dilution remain a key concern capping upside potential, the analyst tells investors.