10 Best AI Data Center Stocks to Buy Now

6. Iron Mountain Incorporated (NYSE:IRM)

Upside Potential: 35.68%

Number of Hedge Fund Holders: 37

On January 13, 2026, Barclays raised its price target for Iron Mountain Incorporated (NYSE:IRM) from $123 to $126, while reiterating an Overweight rating on the stock. As part of its 2026 outlook, the firm updated ratings and expectations for the real estate investment trust group. Within the sector, the firm sees the highest growth in apartments, storage, and single-family rentals in 2026. Meanwhile, the firm projects the weakest growth for cold storage and retail segments.

Earlier, on January 7, 2026, Trust Securities maintained its Buy rating and $110.00 price target on Iron Mountain Incorporated (NYSE:IRM). The update comes amid expectations that data center megawatt leasing will reaccelerate in the fourth quarter of 2026. Furthermore, the firm’s financial performance will be supported by the restructuring expenses of Project Matterhorn. These expenses, totaling roughly $150 million, are expected to roll off in 2026. In the previous two months, Trust Securities has seen AI bubble concerns weigh on Iron Mountain, resulting in a larger multiple contraction than peers.

The firm is particularly bullish on Iron Mountain Incorporated (NYSE:IRM)’s Asset Lifecycle Management (ALM) business, which is active in the fragmented $55 billion IT asset disposition industry, where the company is racing toward achieving the highest market share. According to the firm, the ALM segment could account for around 17% of Iron Mountain Incorporated (NYSE:IRM)’s revenue by 2030 (almost $2 billion). The business’s current share in the overall revenue stands at only 9%.

Iron Mountain Incorporated (NYSE:IRM) provides storage and information management services. The company’s key segments include Global Records & Business, the Global Data Center Business, and Corporate & Other Business.