Iron Mountain initiated with a Buy at Jefferies

Jefferies analyst Jonathan Petersen initiated coverage of Iron Mountain (IRM) with a Buy rating and $120 price target The company’s strategic transformation has accelerated growth across data centers, digital solutions, and asset lifecycle management, the analyst tells investors in a research note. The firm sees Iron Mountain’s 240,000 customers providing an “engine for cross-selling” into these growth segments, growing nearly 25% annually.