TD Cowen has raised its price target for Advanced Micro Devices Inc. (AMD) to $165 from $115, representing a 43.48% increase. The investment firm highlighted AMD as a chip stock that is currently outperforming and expected to continue its upward trajectory. Following the announcement, AMD shares have seen notable gains, with reports indicating the stock has risen by approximately $10 in a short period. Market participants are anticipating a potential breakout if the stock surpasses current resistance levels.