Iron Mountain shares surge 7.80% after hours on Barclays price target raise to $126 and renewed analyst optimism in data center growth.

Iron Mountain Incorporated (IRM) surged 7.80% in after-hours trading, driven by renewed analyst optimism linked to growth in its storage and data center sectors. Recent reports highlighted strong analyst support, with firms like RBC Capital and Barclays upgrading the stock, citing robust demand and pricing trends. Additionally, the company’s appointment of Arvind Subramanian as Executive Vice President and Managing Director for India was cited as a strategic move to expand its market presence. While some news, such as short seller Hedgeye’s bearish stance and insider sales, introduced volatility, positive momentum was reinforced by a 5.45% intraday price increase earlier in the day and a 5% dividend hike, aligning with the after-hours rally. These factors collectively underscored IRM’s undervaluation and long-term growth potential in the data center boom.