Wedbush turned bullish on AMC’s stock, citing a more consistent movie-release slate over the next several quarters and prospects for market-share gains.

AMC Entertainment shares soared after Wedbush Securities upgraded the stock, saying the movie theater chain was "poised to benefit from a more consistent release slate over the next several quarters."

Stock in the mega-exhibitor soared on Friday as a Wedbush analyst argued glaring uncertainties brought on by the pandemic and the Hollywood strikes are behind the debt-laden company.