Wall Street analysts love Netflix’s price increase

Reed Hastings attends Reed Hastings panel during Netflix 'See What's Next' event at Villa Miani on April 18, 2018 in Rome, Italy.

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Reed Hastings attends Reed Hastings panel during Netflix ‘See What’s Next’ event at Villa Miani on April 18, 2018 in Rome, Italy.

Netflix announced Tuesday it is raising prices on customers for the fourth time in its history.

Shares took off after the company said the increase will take effect right away, with the price jump expected to be between 13 and 18 percent.

The stock rose to near its high of the day as Wall Street analysts largely cheered the move in notes to clients, saying it showed confidence from management in the company’s upcoming content releases.

Stifel analyst Scott Devitt headlined with, “Pricing Wind Beneath its Wings.” He said the increase puts the service about in line with HBO Now and Hulu’s premium service and that the company will be able to “continue its recent pace of domestic price increases every 16-18 months.”

Here’s what some of the major analysts have said so far:

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