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Fly News Breaks for February 20, 2019
IRM
Feb 20, 2019 | 10:18 EDT
MUFG analyst Karin Ford raised her price target for Iron Mountain to $37 following the company's Q4 report. Following 150 basis points of deceleration in organic storage revenue growth in 2018, management hopes to stabilize the core paper business in 2019 at 2.1% while the faster-growing data center segment becomes a bigger piece of the pie, Ford tells investors in a post-earnings research note. The analyst expects Iron Mountain's normalized FFO growth to "hold steady" at 4%-5% in 2019 and she keeps a Neutral rating on the shares.
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