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Fly News Breaks for October 9, 2015
IRM
Oct 9, 2015 | 08:04 EDT
Jefferies analyst Dan Dolev says new mortgage requirements by the Consumer Financial Protection Bureau effective this month along with government studies favoring electronic mortgages could drive a further step-down in paper storage growth. Around 66% of mortgages are still paper-based, Dolev tells investors in a research note. eMortgages "could be the next shoe to drop" for Iron Mountain, the analyst writes. He cut his price target for shares to $27 from $29 and keeps an Underperform rating on storage provider of paper documents.
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