While there are no guarantees in Wall Street analysts' price targets, they can be a great starting point to find promising investments. One stock that recently caught my attention was e-commerce-focused pet retailer (NYSE: CHWY).

The stock currently trades at around $16 per share, but Wall Street analysts are quite upbeat on the stock, maintaining an average price target of $31.62. That implies a 97% upside potential. Recently, the company received updated buy ratings from analysts Eric Sheridan of Goldman Sachs and Trevor Young of Barclays, who set price targets of $36 and $30, respectively.

After examining Chewy's recent results, along with the strategy that management outlined during its investor day in December, I can't help but agree with Wall Street. Down 86% from its all-time highs, Chewy looks like an outstanding growth stock to buy at its current all-time-low valuation.

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Source Fool.com