---
title: "BUZZ-Iron Mountain climbs after Jefferies starts at 'buy'"
description: "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, indicatin"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/258390154.md"
published_at: "2025-09-22T15:35:39.000Z"
---

# BUZZ-Iron Mountain climbs after Jefferies starts at 'buy'

> 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.

Iron Mountain’s (IRM.N) shares up 3.8% on Mon to $103.70, a nearly 3-month high, after Jefferies initiates coverage at ‘buy’, saying its strategic transformation isn’t fully appreciated

The REIT’s shares well outperforming the S&P Real Estate index (.SPLRCR) , which is essentially flat on the session

Jefferies assigns PT of $120, implying 20% upside to stock’s last close

Known for its records storage business, IRM has reinvented itself, transforming into a diversified information management and technology infrastructure leader, Jefferies analyst Jonathan Petersen wrote in note

Growth businesses expected to drive 10%+ adjusted funds from operations growth into 2029 on secular tailwinds from artificial intelligence and digital infrastructure investment, Petersen said

Data center guidance is conservative, Petersen said, adding he believes investors “underestimate the upside potential from incremental leasing and new starts”

Now, of 12 analysts covering IRM, recommendation breakdown is 10 “strong buy” or “buy”, 1 “hold” and 1 “sell”; median PT is $122, according to LSEG data

Including the move on Mon, IRM shares down ~1% YTD vs 2% advance in SPLRCR (Lance Tupper is a Reuters market analyst. The views expressed are his own)

### Related Stocks

- [IRM.US - Iron Mountain](https://longbridge.com/en/quote/IRM.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| Iron Mountain Stock Outlook: Is Wall Street Bullish or Bearish? | Iron Mountain Stock Outlook: Is Wall Street Bullish or Bearish? | [Link](https://longbridge.com/en/news/275476590.md) |
| Iron Mountain Q4 2025 earnings preview: What to expect | Iron Mountain (IRM) will announce Q4 earnings on February 12, with consensus FFO at $0.99 and revenue at $1.8B (+14.04%  | [Link](https://longbridge.com/en/news/275648816.md) |
| A Look Ahead: Iron Mountain's Earnings Forecast | Iron Mountain (NYSE:IRM) will release its quarterly earnings report on February 12, 2026, with analysts predicting an EP | [Link](https://longbridge.com/en/news/275633133.md) |
| Iron Mountain Reports Fourth Quarter and Full Year 2025 Results \| IRM Stock News | Iron Mountain reported record financial results for Q4 and full year 2025, with revenues of $1.8 billion and $6.9 billio | [Link](https://longbridge.com/en/news/275749712.md) |
| BRIEF-Iron Mountain Q4 Adjusted EPS USD 0.61 Vs. IBES Estimate USD 0.59 | Feb 12 (Reuters) - Iron Mountain Q4 EPS USD 0.3.Q4 net income USD 93 millionQ4 adjusted EBITDA USD 705 million vs. IBES  | [Link](https://longbridge.com/en/news/275749524.md) |

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.