Broadcom (NASDAQ:AVGO) reported better-than-expected Q3 results, with EPS of $6.96 beating the Street estimate of $6.85 and revenue of $6.78 billion, compared to the consensus estimate of $6.74 billion.

The company provided its Q4 outlook with projected revenue of $7.35 billion, higher than the consensus estimate of $7.23 billion.

Analysts at Deutsche Bank raised their price target on Broadcom to $560 from $525. While the magnitude of the beat/raise was slightly less in comparison to the company’s peers, the brokerage believes the consistency displayed by the company is intentional both strategically, as it focuses on long-duration infrastructure designs in Networking, Storage, and Broadband, and tactically as it tightly manages shipments to avoid customer inventory builds.

Analysts at Oppenheimer think that the company has one of the most strategically and financially attractive business models in the semiconductor industry, mentioning 4 major investment considerations that underpin their bullish outlook:

(1) Sustained competitive advantage in the market with best-in-class visibility.

(2) Highly diversified non-mobile business offering the financial performance characteristics of a more traditional HPA bellwether.

(3) The company has an efficiently managed manufacturing advantage.

(4) Substantial EPS and FCF growth driven.