5 Best Pick and Shovel AI Stocks to Invest In

4. Iron Mountain Incorporated (NYSE:IRM)

On July 1, 2026, Barclays analyst Brendan Lynch raised the firm’s price target on Iron Mountain Incorporated (NYSE:IRM) to $143 from $127 and kept an Overweight rating. Lynch said Barclays raised targets across the communications infrastructure real estate investment trust group due to higher growth expectations than previously modeled. The firm said the companies are benefiting from ongoing hyperscale demand and accelerating enterprise AI demand.

On June 15, Iron Mountain announced a proposed offering of $1B aggregate principal amount of Senior Notes due 2035. The notes will initially be fully and unconditionally guaranteed by the company’s subsidiaries that are obligors under each series of its existing notes. Iron Mountain intends to use the net proceeds to repay part of the amounts outstanding under its revolving credit facility, pay related fees and expenses, and for general corporate purposes. The exact terms and timing will depend on market conditions and other factors.

Earlier, Truist analyst Tobey Sommer raised the firm’s price target on Iron Mountain to $140 from $130 and kept a Buy rating after better-than-expected Q1 results. Sommer said data center lease trends tend to drive the stock because the segment has a larger total addressable market, higher margins, and better multiples.

Iron Mountain Incorporated (NYSE:IRM) provides services that help customers unlock value and intelligence from physical and digital assets.