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Dropbox price target raised to $35 from $32 at RBC Capital

RBC Capital raised the firm’s price target on Dropbox (DBX) to $35 from $32 and keeps an Outperform rating on the shares. The company reported another mixed quarter, as revenue upside was muted and annual recurring revenue growth decelerated 130 bps, but Dropbox noted strong top of funnel activity alongside retention efforts improving, the analyst tells investors in a research note.

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