SunTrust Bullish on Zillow at Lower Levels

In a "Quick Thoughts" piece out this morning, Robert Peck of Sun Trust commented on Zillow

"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

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