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Look for Trulia (TRLA +1.8%) to close its valuation gap with Zillow (Z -0.3%), writes Deutsche's...

Look for Trulia (TRLA +1.8%) to close its valuation gap with Zillow (Z -0.3%), writes Deutsche's Lloyd Walmsley, who's upgrading the former to Buy. Whereas Zillow has risen 23% since Feb. 15 (going into today), Trulia has fallen 14%, and its 2014E EV/EBITDA multiple is now 21% lower. Walmsley argues Trulia's follow-on offering strengthens its M&A flexibility, and sees the company delivering "a more articulated strategy to deepen agent relationships over time."
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