AT&T, Exxon Mobil highlight Bank of America's top ideas for the first quarter

Margot Robbie, Mary Elizabeth Winstead, Rosie Perez, Ella Jay Basco and Jurnee Smollett-Bell star in "Birds of Prey: And the Fantabulous Emancipation of One Harley Quinn."
Warner Bros.

Bank of America revealed its top short-term ideas for the quarter ahead, and AT&T and Exxon Mobil made the list.

The bank is betting on AT&T's "accelerating earnings growth on new cost cutting initiatives and stock repurchases." With a price target of $43, Bank of America believes the stock can go up about 10% from here.

AT&T could also benefit from Warner Brother's movie Birds of Prey, which is slated to premier in February, the bank predicts.