Zillow's Price Target Bump At Deutsche Bank

In a report published this morning, Deutsche Bank analysts reiterated their Hold rating on internet company

Zillow, Inc. following the Trulia deal approval. However, Deutsche Bank analysts increased their price target range from $92.00 to $115.00, a 25% jump. From the Trulia deal, these analysts believe that Zillow would be able to extract valuable synergies from this deal through Trulia's rental inventory, more efficient ad monetization, and reduction in cost avoidances. However, the analysts did cite that more forecasting is to come stating, "We expect more color on the Feb 18 conference call but a lot of work on synergy forecasting still needs to be done, suggesting there may not be substantial new disclosure immediately." As for the report's valuations, these analysts estimated 2015 revenue of $730M and 2016 revenue of $962M. EPS estimates for 2015-2016 were $1.17 to $2.56. As of Tuesday afternoon, Zillow was trading up 2.61% at $109.28.