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UPDATE: Stifel Nicolaus Upgrades Iron Mountain to Buy Post Meetings with Management

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Stifel Nicolaus upgrades Iron Mountain (NYSE: IRM) from Hold to Buy and establishes a price target of $42.

Stifel Nicolaus comments, "After spending Friday in meetings with IRM management (Chairman/CEO, CFO), we are raising our rating from Hold to Buy. Key upgrade points include: 1) we are increasingly confident that QRS pretax income in 2014 will be around $400M ($2.32 per share) requiring a dividend payout of about $2.09 per share even if IRM can't move all the International subsidiaries to the QRS by 2014, 2) the company will come out with an AFFO number that is in excess of $500M ($2.91 per share), and 3) the stock will look attractive to yield-hungry investors in the current low interest rate environment."

IRM closed at $32.72 on Friday.

Latest Ratings for IRM

Oct 2017Evercore ISI GroupInitiates Coverage OnOutperform
Jun 2017Deutsche BankDowngradesHoldSell
Feb 2017Deutsche BankInitiates Coverage OnHold

View More Analyst Ratings for IRM
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Posted-In: Stifel NicolausAnalyst Color Upgrades Price Target Intraday Update Analyst Ratings


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