Imperial Capital analyst Jeff Kessler upgraded Alarm.com to Outperform while lowering his price target for the shares to $58 from $60. The shares are attractive after declining 19% from recent highs, Kessler tells investors in a research note. The company posted a "strong" Q3 performance, and its guidance for Q4 and 2018 is above consensus, adds the analyst. He also believes the market may be underestimating Alarm.com's non-residential opportunity. Kessler sees the company as an emerging leader in software-as-a-service platforms for small/medium businesses.