ReutersReuters

Pattern Group climbs as brokerages launch coverage with bullish ratings

RefinitivLess than 1 min read

** Shares of e-commerce accelerator Pattern Group PPTRN rise nearly 1.4% to $14.16 in premarket after brokerages start covering the stock following the end of post-IPO quiet period

** Goldman Sachs and J.P. Morgan were the lead underwriters for the offering

** J.P. Morgan sees Pattern as a leading e-commerce accelerator poised for strong growth, driven by its proprietary tech, AI and global reach

** Jefferies says co's data-driven strategy for enhancing e-commerce performance will continue to attract and retain customers

** Its stock closed the previous session at $13.97, compared with its offer price of $14

** The following brokerages started coverage on co

Brokerage

Rating

PT

J.P. Morgan

Overweight

$18

Jefferies

Buy

$18

Needham

Buy

$18

Keybanc

Overweight

$18

Stifel

Buy

$18

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