This article first appeared on GuruFocus.

Alphabet (GOOGL) could have substantially more upside as artificial intelligence strengthens rather than disrupts its core businesses, according to Tigress Financial Partners.

Analyst Ivan Feinseth reiterated a Strong Buy rating and raised his Alphabet price target to a Street-high $485 from $415, implying roughly 39.6% upside from the level cited in the report.

The bullish thesis centers on Alphabet turning its massive AI investments into growth across Search, Cloud and Gemini.

Search remains the most important piece.

Feinseth believes AI Overviews and AI Mode can make Google more useful for complex queries,…