Barclays Raises its Price Target on Iron Mountain (IRM)

Iron Mountain Incorporated (NYSE:IRM) is one of the 10 Best Pick and Shovel AI Stocks to Invest In.

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.

Barclays Raises its Price Target on Iron Mountain (IRM)

Pixabay/Public Domain

Barclays Raises its Price Target on Iron Mountain (IRM)

Pixabay/Public Domain

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.

While we acknowledge the risk and potential of IRM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IRM and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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