Deutsche Bank Starts Trulia (TRLA) at Buy, Well Positioned to Benefit from Mobile

Deutsche Bank initiates coverage on recent IPO Trulia (NYSE: TRLA) with a Buy rating and $27 price target.

The firm comments: "We see Trulia as uniquely well positioned to benefit from the transition to mobile, where (1) mobile leads convert better for customers, (2) Trulia prices its share of impressions at a premium price to desktop despite lower volumes, and (3) users are increasingly shifting to mobile. Agent adoption of Trulia's recently introduced mobile product, TMA, has been torrid. We see upside potential to our estimates from TMA if adoption rates remains even at a fraction of the initial uptake."

For an analyst ratings summary and ratings history on Trulia click here. For more ratings news on Trulia click here.

Shares of Trulia closed at $23.12 yesterday.

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