Iron Mountain rises after lifting annual forecasts on AI demand

Iron Mountain

30/04/2026 16:10

** Real estate investment trust Iron Mountain's IRM.N shares rise 7.5% to a 52-week high of $123.14

** The data center co raises its annual forecasts, citing an AI-driven boom

** Co beats Q1 estimates for revenue and adjusted funds from operations

** Co now expects annual revenue between $7.83 bln and $7.93 bln and adjusted funds from operations (AFFO) between $5.79 and $5.86 per share

** The median price target among 12 analysts covering the stock is $133.00; 11 rate the stock 'buy' or 'strong buy' and one rates it a 'sell' - LSEG data

** Including session's move, IRM shares up 47.9% YTD

 (Reporting by Utkarsh Hathi)

 ((utkarshtushar.hathi@thomsonreuters.com))