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Shares of AMD (AMD) are moving higher after Cowen named the stock one of its best ideas for 2019. Despite some "well-known" graphics processing unit headwinds in the first half of 2019, AMD will see an "important revenue inflection" in the second half of the year as its fully refreshed lineup moves from 14nm to 7nm at TSMC (TSM), Cowen analyst Matthew Ramsay told investors earlier in a research note. He believes this will mark AMD's first manufacturing advantage versus competitor Intel (INTC). The analyst thinks Intel's Moore's Law advantages entering 2019 "have been largely eroded and should open opportunities" for AMD and other competitors on the 7nm node at TSMC. These opportunities could materialize across AMD's business and "re-shift investor focus toward the longer-term opportunity versus near-term GPU headwinds," contends Ramsay. The analyst has an Outperform rating on AMD with a $26 price target. The stock in morning trading is up 3%, or 54c, to $20.53.