Iron Mountain price target raised to $80 from $75 at Wells Fargo

Wells Fargo analyst Eric Luebchow raised the firm’s price target on Iron Mountain to $80 from $75 and keeps an Overweight rating on the shares. An 8%-9% adjusted funds from operations outlook in 2024, with potential upside, should continue to support a stock trading at ~16x, the analyst tells investors in a research note.