DBX - Dropbox Looks Fully Priced After Recent Gains

• Dropbox has rallied substantially in recent months, up more than 20% YTD.
• The valuation is low, but expected growth is modest.
• The Wall Street outlook is bullish but the price is near the 12-month price target.
• The market-implied outlook to early 2022 is bearish.
• Covered calls look attractive for those inclined to be long DBX.

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