Alarm.com price target raised to $70 from $65 at Jefferies

Jefferies raised the firm’s price target on Alarm.com (ALRM) to $70 from $65 and keeps a Buy rating on the shares. After the company beat consensus on total revenue and EBITDA in Q3, the firm says it views the results as “another proof point that ALRM can grow through the ADT headwinds,” which it argues should result in an improved valuation multiple.