Pattern Group initiated with an Overweight at KeyBanc

KeyBanc initiated coverage of Pattern Group (PTRN) with an Overweight rating and $18 price target The firm says Pattern provides a “best-in-class” e-commerce acceleration platform for launching and scaling e-commerce operations through global marketplaces by optimizing traffic, conversion, price, and availability for its network of brand partners. The stock’s current valuation understates the consistency of Pattern’s 20%-plus revenue growth, the analyst tells investors in a research note.