Susquehanna Starts Trulia (TRLA) at Neutral

Susquehanna initiates coverage on Trulia (NYSE: TRLA) with a Neutral rating and a price target of $39.00.

Analyst Brian Nowak comments, "We are above '14 Street ests., but are 9% below '15 EBITDA as the Street is under-estimating TRLA's '15 ad spend. We like TRLA's long-term positioning and it may trade well near-term with consensus beats. But over the next 12 months (as '15 comes into view), we favor companies with sustainable beats and initiate at Neutral with a $39 PT (based on DCF)."

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 $34.64 yesterday.

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