BMO Capital raised the firm’s price target on Pattern Group (PTRN) to $22 from $19 and keeps an Outperform rating on the shares. The company delivered an impressive beat in their first quarter as a public company, with revenue and adjusted EBITDA printing 12%/44% above the firm’s estimates, the analyst tells investors in a research note. Pattern remains in the very early innings of a massive eCommerce acceleration opportunity as shares are attractive at 17-times expected forward EBITDA estimate, BMO added.
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