While he's not the most bullish on the Street, Deutsche Bank's David Bianco believes that 2014 will indeed see some growth.

"The US economy should sustain a long lasting expansionary cycle of moderate growth, which will make it worthwhile to stay constructive on the S&P 500 for the next couple of years absent a sharp climb in PEs, inflation or interest rates," Bianco writes in his 2014 outlook.

"At this time, we assign a 75% chance to the S&P reaching 1850 or higher at 2014 end."

Bianco suggests a "very selective" investment strategy including technology, aerospace, insurance, chemical, and biotechnology stocks.

Here are Deutsche Bank's favorite big cap stocks (market cap great than $10 billion, PE on 2014 EPS greater than 20, 2014 EPS growth greater than 5%, and net debt/market cap less than 30% for the non-financial companies).

Delphi Automotive

Ticker: DLPH

Target Price: $75

Net debt/market cap: 8%

2014 EPS growth: 16%

Shares of Delphi Automotive are up 50% year to date.

Source: Deutsche Bank



General Motors

Ticker: GM

Target Price: $55

Net debt/market cap: 5%

2014 EPS growth: 36%

Automaker General Motors has had a terrific 2013 as the U.S. auto recovery chugs along.

Source: Deutsche Bank



CBS

Ticker: CBS

Target Price: $67

Net debt/market cap: 19%

2014 EPS growth: 17%

Shares of CBS are up about 48% year to date, and Bianco writes that he favors some media stocks in 2014. 

Source: Deutsche Bank



Time Warner

Ticker: TWX

Target Price: $82

Net debt/market cap: 30%

2014 EPS growth: 14%

Time Warner CEO Jeff Bewkes has said that in order to compete with Netflix, Xbox, and YouTube, cable companies need to get serious about online video. 

Source: Deutsche Bank



Viacom

Ticker: VIAB

Target Price: $98

Net debt/market cap: 29%

2014 EPS growth: 17%

Shares of Viacom are up almost 45% year to date.

Source: Deutsche Bank



Walt Disney

Ticker: DIS

Target Price: $79

Net debt/market cap: 8%

2014 EPS growth: 15%

The Walt Disney Company — the media and theme park giant — is up 36% year to date and had 9% EPS growth in 2013. 

Source: Deutsche Bank



Loews

Ticker: L

Target Price: $53

Net debt/market cap: 1%

2014 EPS growth: 28%

With over 18,000 employees, Loews operates mostly as a commercial property and casualty insurance company. It saw 100% EPS growth in 2013.

Source: Deutsche Bank



Lincoln National

Ticker: LNC

Target Price: $56

Net debt/market cap: 6%

2014 EPS growth: 8%

LNC had a huge 2013 and is up 85% year to date. 

Source: Deutsche Bank



Marsh & McLennan

Ticker: MMC

Target Price: $50

Net debt/market cap: 4%

2014 EPS growth: 13%

The insurance broker has 54,000 employees and saw 15% EPS growth this year. 

Source: Deutsche Bank



MetLife

Ticker: MET

Target Price: $59

Net debt/market cap: -21%

2014 EPS growth: 5%

Shares of Metlife are up 45% year to date. 

Source: Deutsche Bank



Amgen

Ticker: AMGN

Target Price: $142

Net debt/market cap: 5%

2014 EPS growth: 12%

Amgen is a biotechnology medicines company headquartered in Thousand Oaks, California.

Source: Deutsche Bank



Gilead Sciences

Ticker: GILD

Target Price: $95

Net debt/market cap: 5%

2014 EPS growth: 119%

Shares of the biotechnology company are up 90% year to date. 

Source: Deutsche Bank



Honeywell International

Ticker: HON

Target Price: $91

Net debt/market cap: 5%

2014 EPS growth: 11%

Headquartered in Morristown, New Jersey, the manufacturing company is up 33% year to date.

Source: Deutsche Bank



United Technologies

Ticker: UTX

Target Price: $115

Net debt/market cap: 17%

2014 EPS growth: 11%

UTX is up almost 30% year to date and saw 15% EPS growth this year.

Source: Deutsche Bank



General Electric

Ticker: GE

Target Price: $32

Net debt/market cap: 110%

2014 EPS growth: 5%

Shares of GE are up 25% in 2013. 

Source: Deutsche Bank



QUALCOMM

Ticker: QCOM

Target Price: $78

Net debt/market cap: -12%

2014 EPS growth: 12%

The morning after Qualcomm COO Steve Mollenkopf's name was floated for Microsoft CEO, Qualcomm went ahead and announced that the company is naming him CEO starting in March.

Source: Deutsche Bank



Apple

Ticker: AAPL

Target Price: $625

Net debt/market cap: -5%

2014 EPS growth: 5%

Apple recently finished an iPhone deal with China Mobile, which Morgan Stanley predicts will lead to the sale of 12 million more phones.

Source: Deutsche Bank



EMC

Ticker: EMC

Target Price: $32

Net debt/market cap: -7%

2014 EPS growth: 14%

Headquartered in Hopkinton, Massachusetts, EMC is a data storage company with 60,000 employees.  

Source: Deutsche Bank



Amphenol

Ticker: APH

Target Price: $88

Net debt/market cap: 4%

2014 EPS growth: 14%

Shares of the fiber optic connector company are up 25% year to date.

Source: Deutsche Bank



Google

Ticker: GOOG

Target Price: $1220

Net debt/market cap: -17%

2014 EPS growth: 28%

Shares of Google have climbed 46% year to date. 

Source: Deutsche Bank



Accenture

Ticker: ACN

Target Price: $82

Net debt/market cap: -12%

2014 EPS growth: 6%

Accenture is up 7% year to date and saw 9% EPS growth in 2013. 

Source: Deutsche Bank



Cognizant Technology Solutions

Ticker: CTSH

Target Price: $111

Net debt/market cap: -12%

2014 EPS growth: 18%

The technology company has 166,400 employees and is up 22% year to date. 

Source: Deutsche Bank



IBM

Ticker: IBM

Target Price: $200

Net debt/market cap: 14%

2014 EPS growth: 8%

IBM saw EPS growth of 11% in 2013, but the stock is down 12% this year. 

Source: Deutsche Bank



Broadcom

Ticker: BRCM

Target Price: $34

Net debt/market cap: -5%

2014 EPS growth: 132%

Broadcom is a semiconductor company based in Irvine, California, and is down 18% year to date.

Source: Deutsche Bank



Intel

Ticker: INTC

Target Price: $28

Net debt/market cap: -5%

2014 EPS growth: 5%

Shares of Intel are up 13% year to date. 

Source: Deutsche Bank



Air Products and Chemicals

Ticker: APD

Target Price: $121

Net debt/market cap: 26%

2014 EPS growth: 7%

APD — the Allentown-based chemical company — saw 2% EPS growth in 2013.

Source: Deutsche Bank



E. I. du Pont

Ticker: DD

Target Price: $68

Net debt/market cap: 14%

2014 EPS growth: 12%

Shares of the chemical company are up 30% year to date. 

Source: Deutsche Bank



LyondellBasell Industries

Ticker: LYB

Target Price: $90

Net debt/market cap: -5%

2014 EPS growth: 18%

Bianco favors chemical companies like LYB, which is up almost 30% year to date and had 15% EPS growth in 2013.

Source: Deutsche Bank



PPG Industries

Ticker: PPG

Target Price: $210

Net debt/market cap: 4%

2014 EPS growth: 14%

Shares of the glass company are up 32% year to date. 

Source: Deutsche Bank



Praxair

Ticker: PX

Target Price: $140

Net debt/market cap: 24%

2014 EPS growth: 13%

Praxair is a Connecticut-based chemical company, and is up 10% year to date. 

Source: Deutsche Bank



Now for a look at 2013...

Byron Wien Predicted 10 Big Surprises For 2013 — Here's How They're Doing »



See Also:

The Weekend Is Over And Stocks Are Up Nicely14 US Cities With Big Foreclosure ProblemsWall Street's Brightest Minds Reveal The Most Important Charts Of The Year