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The 3 Most Promising Growth Stocks Doubling Before You Know It

Stocks that could double

It is often useless to fight against market trends, especially regarding market sentiment. There is a famous saying around Wall Street: "The market can stay irrational longer than you can stay solvent." In this case, investors do not have to follow any irrationality, only hop on the next wave of justifiable rallies.

This time, as the FED raises rates and continues pointing toward a steady high speed through the end of 2023, money is caught pivoting in and out of specific names and industries. This creates the perfect opportunity for investors with the proper insight; luckily, the homework has been done for others.

These three hand-picked stocks are calling for significant Wall Street analyst attention and broader market rewards in the form of favorable valuations. The story remains the same across these stocks: high growth potential and bullet train to doubling in price before anyone notices.

West Fraser Timber

The United States has unexpectedly reported a jump in new home sales, pushing stocks in the sector into favored territory. The story continues deeper into the value chain as West Fraser Timber Co. (NYSE: WFG) shows promise for a brighter future amid timber demand in new construction.

This stock can be regarded as a special situation, as it is experiencing an attractive discount on valuation terms. Investors can turn to the old-school value investing methodology employed by none other than Warren Buffett, where an investor looks to buy a stock below its NAV (net asset value).

Computed as total assets minus total debt, then divided by the number of outstanding shares, West Fraser's 'basement' valuation comes to roughly $109 a share. It is no wonder the stock is selling for 0.8x its book value, drawing analysts like moths to fluorescent lights.

The current price target consensus will call for the stock to rise to $113.13 a share, representing a massive 50.3% rally from today's prices while filling the value gap in the company's balance sheet.

Stepping away from the balance sheet for a second and focusing on earnings potential for a change, investors will need to squint once they see an expected EPS jump of 557% for the next twelve months.

Considering that current price targets only reflect the company's asset base and balance sheet quality, with a complete disregard for earnings potential, investors can fully expect analysts to come forth and raise these targets better to reflect their expectations of profitability and explosive EPS.


Regarding internet retail stocks, Chewy (NYSE: CHWY) gets to sit on a throne of favoritism. The industry carries an average forward price-to-earnings ratio of 27.4x, while Chewy stock trades today for a massively superior 132.8x.

Before the term 'expensive' gets thrown around, let's dissect why there's a premium in the first place. Chewy analyst ratings agree upon a consensus price target of $42.35 a share, which would require a 64.4% rally from today's prices to fill this gap.

Markets are willing to pay a premium for this stock relative to competitors like Petco Health and Wellness (NASDAQ: WOOF), and there is a good reason behind this behavior.

Showing definite momentum during its last quarterly results, Chewy has attracted a flood of institutional money, who are also betting on an explosive rally. The key behind these new stakes and the massive valuation from markets comes from 2024 EPS projections.

Jumping to $0.54 a share, EPS are poised to jump at a rate of 263.2% in the next twelve months. All else equal, Chewy stock should follow a similar behavior, letting its price rise as much as the EPS jump.


Instacart has announced its plans to go public; those curious can look at the company's prospectus filed with the SEC and notice a few things. Volumes have been declining, and market share is slowing its pace of takeover; it has proved hard to compete against industry giants like Uber Technologies (NYSE: UBER).

Uber falls in the same bullish category for the latest round of analyst ratings; there is a consensus price target of $56.0 a share, implying a net rally of 27.4% from today's prices.

History begins to rhyme when investors figure out the driver behind the upside wheel. The next twelve months are expected to bring investors an explosive 163.4% jump in EPS, delivering another doubling opportunity for investors looking to diversify their upside.

Considering that the company blew the latest quarterly earning expectations out of the water, posting a gain of $0.18 per share versus an expected loss, investors should now have all the confidence they need to consider riding the next rally to a doubling in price.

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