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In a "Quick Thoughts" piece out this morning, Robert Peck of Sun Trust commented on Zillow
Z
"We remain bullish on the LT opportunity of Zillow , but maintain our Neutral rating as we look to be more constructive at lower entry points and with more certainty around the Trullia
TRLA merger"
He also walked though the 5 top takeaways:
-Monetization of Listing Inventory: Impact to monetization of listings by national deals
-News Corp Acquisition of Move.com: The deal signifies News Corp's view of the opportunity in US real estate
-Zebra HoldCo Merger Progress: Management seemed optimistic that the deal would be approved
-Pricing Strong, Conversion Improving, ROI Stable: Management noted continued high demand from agents across zip codes
-Street Easy and Rentals: Company noted continued traction in its new cost per lead
Shares of Z are trading unchanged in the pre-market
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