CLSA analyst Mike Mayo also doesn't expect more regulation, but he worries about ongoing regulatory uncertainty as rules related to Dodd-Frank are still being written.
Mayo is recommending both Morgan Stanley and Citigroup for the first time in four years, because of their potential to restructure.
After Hurricane Sandy destroyed power infrastructure in parts of the Northeast, there may be opportunities for companies that provide recovery support, said Christine Tezak, analyst at Clearview Energy Partners. She cited companies like Quanta Services, MYR Group, Pike Electric and MasTec as potential winners as the rebuilding takes place.
Some analysts are also still positive on Priceline.com following its $1.8 billion acquisition of Kayak Software. "Priceline has history of successful, forward-thinking acquisitions," wrote Stifel Nicolaus analyst Michael Purcell, in a note released on Friday. "We see very little to be negative about from the acquisition of Kayak."
Investors looking for opportunities outside the U.S. may want to consider two U.K. retailers, Angus Campbell, head of sales at Capital Spreads, said. He thinks both food and clothing retailer Marks & Spencer and Associated British Foods can continue the rally during the holiday shopping season.
—By CNBC.com's Justin Menza
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