BUZZ-Iron Mountain climbs after Jefferies starts at 'buy'
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Iron Mountain's shares rose 3.8% to $103.70 after Jefferies initiated coverage with a 'buy' rating, citing an underappreciated strategic transformation. Jefferies set a price target of $120, indicating a 20% upside. The company is expected to see over 10% growth in adjusted funds from operations through 2029, driven by trends in artificial intelligence and digital infrastructure. Currently, 10 out of 12 analysts recommend 'strong buy' or 'buy' for Iron Mountain, with a median price target of $122.
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