With the Federal Reserve perhaps poised to raise benchmark interest rates again, a temptation exists to avoid long-term growth stocks altogether. Should borrowing costs rise sharply, this dynamic would kill expansionary initiatives. Naturally, such a circumstance wouldn’t bode well for growth-oriented enterprises.

However, some companies in this category command relevant fundamental narratives. Just as importantly, they receive support from Wall Street analysts. While it’s never smart to exclusively depend on one source for information, here’s the reality: these folks assess various market opportunities for a living. More often than not, they should be right. With that in mind, all of the below long-term growth stocks feature strong double-digit percentage return potential. If you have the patience, here are some compelling ideas to consider.

Phillips 66 (PSX)

A downstream energy giant, Phillips 66 (NYSE:PSX) engages in refining, transporting, and marketing natural gas liquids and petrochemicals. Though the political framework seemingly exclusively supports green energy initiatives, the reality is that hydrocarbons will be with us for a long time. Scientifically, few other energy sources command the energy density that fossil fuels do.

Moreover, it’s not just the narrative that makes PSX one of the long-term growth stocks to buy. Objectively, the market prices PSX at a trailing multiple of 4.67. As a discount to earnings, Phillips 66 ranks better than 70.64% of the competition. Also, PSX trades at a trailing sales multiple of 0.29. This sits well below the sector median value of 1.02 times. Notably, PSX represents a strong performer in the charts. Since the January opener, it gained over 6% of equity value. And in the trailing year, it gained over 27%.

Finally, Wall Street analysts peg PSX as a consensus moderate buy. Further, their average price target stands at $127.11, implying over 18% upside potential.

Elevance Health (ELV)

A health insurance provider, Elevance Health (NYSE:ELV) offers services for various sectors and applications. These include medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans. Given the shock to the system that the coronavirus pandemic sparked, people arguably have a more appreciative perspective of the insurance industry.

Presently, Elevance features a market capitalization of $111.53 billion. Since the start of the year, ELV gave up nearly 7% of its equity value. However, in the trailing year, it’s in positive territory, moving up a bit over 1%. Financially, Elevance offers an overall solid profile. For bargain hunters, ELV features a price-earnings-growth ratio of 1.29 times. In contrast, the sector median value is 1.6 times. Operationally, the company’s three-year revenue growth rate stands at 17.2%, above nearly 69% of the industry.

Looking to the Street, covering analysts peg ELV as a consensus strong buy. Also, their average price target stands at $577.44, implying over 23% upside potential. Thus, it makes for an intriguing example of long-term growth stocks to buy.

Cameco (CCJ)

Carrying the world’s largest publicly traded uranium company, Cameco (NYSE:CCJ) features a controversial but misunderstood reputation. Obviously, fears of nuclear meltdowns resonate among the public. However, scientific realities force people to examine the upside narrative of CCJ. Simply, nuclear fuel commands astounding energy density.

Basically, one uranium fuel pellet carries as much energy potential as 17,000 cubic feet of natural gas. Or, if you want to look at it another way, it’s the equivalent of either 149 gallons of crude oil or one ton of coal. Since nothing else comes close, CCJ easily represents one of the long-term growth stocks to buy.

To be fair, though, Cameco will require an extra serving of patience. Primarily, shares feature an overvalued profile. However, the company enjoys decent stability in the balance sheet so don’t overlook it just yet. Plus, Wall Street analysts love CCJ, pegging it a unanimous strong buy. Further, their average price target stands at $35.91, implying nearly 29% upside potential. Thus, it’s one of the long-term growth stocks to buy.

Marcus (MCS)

If you know the name Marcus (NYSE:MCS), it’s probably because you’re familiar with its properties. Otherwise, it tends to slip under the radar. Nevertheless, as migration patterns in the U.S. evolve, MCS could be a massive opportunity among long-term growth stocks to buy.

Fundamentally, Marcus features two business units: hotels and resorts and movie theaters. In my opinion, the latter presents significant upside potential. Located in smaller towns and regions, Marcus Theatres may benefit from millennials moving from pricey metropolitan areas to the suburbs. If so, Marcus might clean up.

Currently, the market prices MCS at a trailing sales multiple of 0.84. As a discount to revenue, Marcus ranks better than 63.49% of the competition. Also, MCS trades at 1.1 times its book value. In contrast, the sector median stands at 1.57 times. So far, two analysts cover MCS, both rating it a buy. As well, their average price target pings at $22, implying nearly 38% upside potential. Therefore, it’s a quiet but powerful example of long-term growth stocks to buy.

General Motors (GM)

An American icon, General Motors (NYSE:GM) in some ways has come full circle. Obviously, the automaker suffered an ignominious bankruptcy following the Great Recession. When the Covid-19 crisis hit, looked poised to repeat the ugliness. However, sentiment stormed back, making it a top idea. Moving forward, GM ranks among the best long-term growth stocks to buy.

Fundamentally, it’s firing on all cylinders. Most notably, GM made strong investments in the electric vehicle space. Further, by electrifying marquee models such as the Hummer, GM can feed nostalgia with current-generation technologies. However, as its latest-gen Corvette proves, the company refuses to slight its gearhead fanbase. For that, I must give GM some props.

Further, the automaker represents an attractive proposition for bargain hunters. Right now, the market prices GM at a forward multiple of 6.39. As a discount to earnings, General Motors ranks better than 84.18% of the competition. Finally, Wall Street analysts peg GM as a consensus moderate buy. Moreover, their average price target stands at $53.45, implying 38% upside potential.

Enphase Energy (ENPH)

An energy technology firm, Enphase Energy (NASDAQ:ENPH) develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations primarily for residential customers. Fundamentally, rising utility bills and climate change should bolster ENPH as one of the long-term growth stocks to buy.

With the events of the new normal disrupting the supply chain of critical resources, this dynamic negatively impacts the broader energy space. In turn, prices rise, leading residential unit owners to consider solar power. In addition, warmer temperatures have sparked blackouts across the nation. Here too, Enphase can help with its battery storage systems. Although shares have accelerated significantly – gaining nearly 30% in the trailing year – Enphase presents an enticing opportunity right now. In particular, its operational stats are simply bonkers.

Even better, Wall Street analysts still believe ENPH has more to run, pegging it a consensus moderate buy. Their average price target stands at $303.94, implying nearly 43% upside potential.

British American Tobacco (BTI)

For the last idea for long-term growth stocks to buy, I’m going to go a bit controversial and seemingly nonsensical. Almost certainly, British American Tobacco (NYSE:BTI) won’t be everyone’s cup of tea, even under the context of willful adult liberties. However, BTI’s relevance or lack thereof might bother investors the most. After all, global smoking prevalence declined over the years.

Moreover, it’s not just an isolated statistic. Other research papers indicate that global tobacco use declined. Under virtually all circumstances, this framework should bode poorly for BTI. However, rising stress levels from economic and geopolitical headwinds may see smoking rates increase. Further, big tobacco firms invested heavily in vaporizers or e-cigarettes. This too should help boost BTI stock.

For those that want to take the risk, British American offers a discount. Right now, the market prices BTI at a forward multiple of 8.1. As a discount to earnings, the company ranks better than 75% of its peers. Finally, two analysts cover BTI, both pegging it a buy. Their average price target stands at $57.34, implying over 51% upside potential.

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.