Pattern Group price target lowered to $20 from $21 at Jefferies

Jefferies lowered the firm’s price target on Pattern Group (PTRN) to $20 from $21 and keeps a Buy rating on the shares. The firm recommends staying selective across Internet stocks, as incremental investments could limit margin expansion and concerns around AI disintermediation could limit multiple appreciation, the analyst tells investors in the firm’s “2026 Internet Playbook” note.