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Tuesday, Feb 19
Trulia (TRLA) -6.4% and Zillow (Z) -1.6%, giving back a portion of last week's enormous...
Trulia (TRLA) -6.4% and Zillow (Z) -1.6%, giving back a portion of last week's enormous post-earnings gains, after Deutsche downgrades Trulia to Hold. The firm is now worried about (surprise, surprise) Trulia's valuation - shares had risen to 48x 2014E EPS - but adds it continues to "see meaningful upside" to its estimates thanks to a $24B real estate ad market and "tailwinds from the real estate recovery." It likes the stock better below $30. Zillow is currently at 55x 2014E EPS.