Bernstein unveils its 'high conviction' stock picks of 2018

Shoppers at a Target store in Culver City, California.
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Bernstein revealed its five conviction stock ideas to clients this week, telling investors that the top picks could see big gains in 2018.

"The common themes across the ideas were: high conviction in the investment thesis; a material opportunity for absolute return in the next 6 to 12 months; and a fundamental forecast that differed from consensus and a set of catalysts that laid out when that differentiated view would be realized in the market," Bernstein analysts wrote in a note.

The companies on the list span a wide range of industries and market caps and represent a snapshot into Bernstein's equity outlook.

Here are the top ideas.