Typically, blue-chip stocks to buy don’t attract attention for their sheer upside potential. Rather, these enterprises bank on their established businesses to provide steady rewards for their stakeholders. In perhaps most cases, we’re talking about a modest combination of passive income and capital gains. However, a select few stalwarts may be capable of doubling their market value.

Primarily, blue-chip stocks to buy that offer triple-digit return potential do so because of incurring sharp volatility. Basically, investors at large might not see the possible upside return in the discount in the charts. However, for the intrepid market participant, underappreciated blue chips may be quite an opportunity. Below are seven such names to consider.

Bank of America (BAC)

Although Bank of America (NYSE:BAC) is one of the biggest financial institutions in the nation, it wasn’t completely immune from the banking sector fallout. Since the beginning of this year, BAC stock gave up more than 14% of equity value. Nevertheless, because it ranks among the biggest blue-chip stocks to buy, some contrarians might believe it’s due for big returns.

Now, are we talking about 100% returns? Admittedly, I probably wouldn’t go that far. Presently, Wall Street analysts peg BAC as a consensus moderate buy. Their average price target stands at $37.89, implying nearly 32% upside potential. In fairness, that’s quite a haul for one of the well-known blue-chip stocks to buy.

Moreover, the most optimistic target sees BAC hitting $48 a pop. From the time of writing, reaching this level would imply upside of over 67%. That’s pretty darn close to doubling. Plus, BAC might be undervalued based on discounted cash flow (DCF). Therefore, it’s one of the blue-chip stocks to buy for speculators.

CVS Health (CVS)

Another popular name among the large-capitalization enterprises, CVS Health (NYSE:CVS) suffered a decline in relevance. With social normalization trends in full bloom, CVS hasn’t been able to attract positive investor interest. Since the Jan. opener, shares fell nearly 18%. In the trailing year, they’re down 27%.

Nevertheless, red ink tends to attract contrarian market participants and that may be the case here. Notably, Wall Street analysts peg CVS as a consensus strong buy. Overall, their average price target stands at $112.10, implying 47% upside potential. Again, that’s quite a forecast for one of the blue-chip stocks to buy.

However, the most optimistic expert sees CVS hitting $143 per share. From the present juncture, if the stock reaches that high, it would translate to a return of over 87%. That’s not shabby at all for such a large enterprise. Also, it’s worth noting that the market prices CVS at a forward multiple of only 8.65. In contrast, the sector median value is 14.62 times.

Pfizer (PFE)

Seemingly everyone’s favorite pharmaceutical company during the worst of the Covid-19 pandemic, the fading of the crisis meant that Pfizer (NYSE:PFE) unfortunately lost significant relevance. Check out – it’s always been relevant. However, without the intense fervor surrounding the Covid vaccine, PFE just lost some of its prior edge. Still, it could be one of the compelling blue-chip stocks to buy.

On paper, Pfizer doesn’t seem that remarkable. Yes, covering analysts peg PFE as a consensus moderate buy. However, their average price target comes out to $48.36, implying just under 16% upside potential. That’s not exactly a doubling.

However, the most optimistic analyst anticipates that PFE might reach $75 per share. If the pharmaceutical giant gets that high, the move would translate to more than 79% up. Now that would be darn close to 100%, especially for a blue chip. Also, Pfizer benefits from a solid balance sheet, strong growth and outstanding profitability. Thus, it wouldn’t be too much of a stretch to see PFE swing sharply northward.

General Motors (GM)

Although General Motors (NYSE:GM) is a legacy automaker, the company pivoted aggressively toward electric vehicles. Further, by converting some of its marquee models to electric power, it may potentially own an automotive goldmine. Over the long run, GM easily ranks among the blue-chip stocks to buy. And yes, with enough time, shares could conceivably double in value.

For now, Wall Street analysts peg GM as a consensus moderate buy. Their average price target stands at a whopping $52.91, implying more than 49% upside potential. Right there, we’re already off to a great start. However, the most optimistic target sees GM hitting $86 a pop. If so, a move to this level would mean a return of nearly 143%.

Could it get there? Notably, the market prices GM at a forward multiple of 6.15. As a discount to projected earnings, GM ranks better than 83.43% of the competition. Again, it may require patience but GM might return 100% or more.

Albemarle (ALB)

Speaking of EVs, everyone seemingly states that the future of mobility will be electric. And that very well might be the case. However, picking out which brands may come out on top will be a difficult endeavor. For those that want to bank more on the infrastructural spectrum, Albemarle (NYSE:ALB) should be on your radar for blue-chip stocks to buy. As a top lithium producer, Albemarle provides what all EVs need.

Unsurprisingly, many analysts have high hopes for ALB stock, though it’s a contested arena. Wall Street’s experts peg ALB as a consensus moderate buy. While their average price target stands at $306.19, thereby implying nearly 52% upside potential, three analysts pegged ALB a sell. Therefore, a cautionary approach may be required.

That said, the most optimistic expert believes that ALB can hit $498 per share. Should Albemarle reach this lofty objective, it would translate to almost 147% upside. On the financial front, Albemarle benefits from decent balance sheet stability and excellent revenue and profitability metrics. Thus, it might have a chance of doubling.

British American Tobacco (BTI)

A controversial name among blue-chip stocks to buy, British American Tobacco (NYSE:BTI) is a multinational company that manufactures and sells cigarettes, tobacco and other nicotine products. Because of declining smoking prevalence, many investors might not see the point in BTI stock. However, the company also makes vaporizer/e-cigarette products, which cynically offer a popular framework. Thus, BTI could be interesting from an investment perspective.

Presently, covering analysts peg BTI as a consensus moderate buy. Their highest price target stands at $57.34, implying over 61% upside potential. And because only two experts cover BTI, there’s not much in terms of price forecast diversification.

Financially, BTI may also intrigue speculators because of its value proposition. The market prices shares at a forward multiple of 7.36. As a discount to projected earnings, BTI ranks better than 78.57% of companies listed in the tobacco industry. Also, it trades at 6.62-times free cash flow, lower than the sector median value of 11.93 times.

PayPal (PYPL)

One of the most relevant blue-chip stocks to buy, digital payments platform PayPal (NASDAQ:PYPL) appears stuck in a downtrend. Unfortunately, the skyrocketing inflation of 2022 combined with rising competition in the payments space pressured PYPL. So far this year, PYPL is only down a bit more than 1%. However, in the past 365 days, PYPL gave up 32% of equity value.

Still, for contrarian investors, PayPal might be an intriguing pickup. Currently, analysts peg PYPL as a consensus moderate buy. Their average price target stands at $113.45, implying over 54% upside potential. What’s more, the most optimistic target comes in at a staggering $357.40. If PYPL gets there, we’re talking about a return of nearly 386%.

Of course, it’s difficult to say if PayPal can reach such an ambitious target. However, the company benefits from a solid cash balance relative to its tech peers. Also, it prints a three-year revenue growth rate of 16.7%, beating out 77.4% of rivals. So, if anything, it has the right stuff.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.