AMC Entertainment (AMC) shares surged 11.19% in intraday trading on Thursday, as the movie theater chain benefited from a robust box office rebound and increased analyst optimism. The stock's significant rise comes amid a series of positive developments for the company and the broader theatrical exhibition industry.

Benchmark analyst Mike Hickey raised his growth estimates for AMC, citing industry data that suggests nearly 37% year-over-year domestic admission growth per screen in the second quarter. This far exceeds the previous estimate of 12.5%. Hickey now expects total company revenue of $1.329 billion, up from the prior forecast of $1.14 billion, and adjusted EBITDA of $154 million, more than double the earlier estimate of $75 million. The analyst noted that "AMC represents a leveraged play on the return of theatrical exhibition, with outsized potential upside if moviegoing demand fully rebounds."

The optimism surrounding AMC is further bolstered by strong summer box office performance, with hits like Superman, F1, and Jurassic World Rebirth pushing ticket sales 16.5% above last year's totals. Additionally, AMC's recent debt-restructuring deal, which provides approximately $223.3 million in new financing, has improved the company's financial position. This positive momentum follows a recent upgrade from Wedbush Securities, which turned bullish on the stock last week, raising its rating to outperform amid the improving box office landscape. As AMC prepares to report its second-quarter earnings on August 8, investors appear increasingly confident in the company's recovery and growth prospects.