Jefferies Bullish on Iron Mountain (IRM) Amid Asset Lifecycle and Data Center Expansion

Iron Mountain Incorporated (NYSE:IRM) ranks among the best real estate stocks to invest in. On September 22, Jefferies issued a Buy rating for Iron Mountain Incorporated (NYSE:IRM), with a price target of $120. Jonathan Petersen, an analyst at Jefferies, emphasized Iron Mountain’s strategic shift, which has sped its expansion in asset lifecycle management, digital solutions, and data centers.

According to Jefferies, the growth categories are expected to generate almost 44% of Iron Mountain’s revenue by 2029, expanding at a rate of almost 25% annually. Project Matterhorn, which began in 2021, has accelerated Iron Mountain’s growth operations, allowing the company to meet its 2026 Adjusted EBITDA and AFFO targets one year earlier by means of a solutions-based sales approach, while its existing storage operations remain robust with stable volumes and CPI+ rent growth.

Iron Mountain Incorporated (NYSE:IRM) offers storage and information management solutions. Its operations are separated into three business segments: Global Records & Information Management, Global Data Center, and Corporate & Other Business.

While we acknowledge the potential of IRM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

Disclosure: None. This article is originally published at Insider Monkey.