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Fly News Breaks for January 9, 2020
Jan 9, 2020 | 16:28 EDT
Jefferies analyst Brent Thill downgraded Dropbox to Hold from Buy with a price target of $19, down from $29. The stock's current multiple already prices in 15%-20% growth and up to 200 basis point of margin expansion, Thill tells investors in a research note. The analyst cites a lack of catalysts for the downgrade to Hold.
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