Eric Luebchow, an analyst from Wells Fargo, maintained the Buy rating on Iron Mountain. The associated price target remains the same with $125.00.
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Eric Luebchow has given his Buy rating due to a combination of factors influencing Iron Mountain’s performance. Despite a reduction in data center leasing guidance, which was primarily attributed to power availability issues, the company demonstrated a strong quarter overall. This situation presents an opportunity to invest in a stock trading at approximately 16 times the anticipated higher 2026 adjusted funds from operations (AFFO).
Iron Mountain’s RIM Storage segment showed promising growth, with organic revenue increasing for the second consecutive quarter. The segment’s growth is expected to exceed 6% in the latter half of 2025, aided by favorable foreign exchange rates and easing comparisons. Additionally, the ALM segment outperformed expectations, with revenues surpassing estimates and guidance being raised. Furthermore, optimism surrounds the potential expansion of a Department of Treasury contract, which could extend its duration significantly. These factors contribute to the positive risk/reward outlook for Iron Mountain, justifying the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $121.00 price target.
IRM’s price has also changed moderately for the past six months – from $106.200 to $90.040, which is a -15.22% drop .