Here are Bank of America's top stocks for the second quarter

Published Wed, Apr 1 20208:53 AM EDTUpdated Wed, Apr 1 20209:52 AM EDT

(This story is for CNBC PRO subscribers only.) Bank of America has released its quarterly "Top 10 U.S. ideas" list, identifying stocks likely to perform well despite coronavirus-induced market volatility. These are companies the firm has identified as long-term opportunities. In less-volatile times, it has included names that would perform over the short-term as well. Apple is one of the names on the list, with the firm noting that the recent pullback, which has seen shares fall 22% from its all-time high in January, provides an attractive entry point. "Most of the negative news is already out and we see incremental positives emerging in C2Q," analysts led by Anthony Cassamassino wrote in a note to clients Wednesday. He pointed to the company's upcoming earnings results as well as the re-opening of its stores as worldwide travel restrictions are lifted as upside catalysts. The firm has a buy rating on the stock, and the $300 target is 18% above where the shares currently trade. Also on the list is Honeywell , which Bank of America thinks will attract shareholders based on its "strong balance sheet, lower operational risk, and relative earnings/FCF [free cash flow] stability." "We see Honeywell's diversification, backlog, and mix of long-cycle revenue as offering above-average revenue visibility," Bank of America said. The firm's $155 target represents a roughly 16% upside. On the more defensive side — meaning stocks that can perform regardless of economic cycles — Bank of America highlighted Procter & Gamble as an attractive stock to own. "PG's execution on its largest brands has improved significantly in the last two years," the firm said, while noting that the coronavirus has driven demand for the company's soaps and household cleansers, among other products. Bank of America also said that amid strong demand for staples products, P & G specifically is under-owned by active managers, meaning buying activity could soon pick up and therefore drive shares higher. The firm has a buy rating on the name, and the $135 target is 22% above where the stock currently trades. - CNBC's Michael Bloom contributed reporting.

Procter & Gamble's Joy brand dishwashing liquid is arranged for a photograph in Tiskilwa, Illinois.

Daniel Acker | Bloomberg | Getty Images

(This story is for CNBC PRO subscribers only.)

Bank of America has released its quarterly "Top 10 U.S. ideas" list, identifying stocks likely to perform well despite coronavirus-induced market volatility.

These are companies the firm has identified as long-term opportunities. In less-volatile times, it has included names that would perform over the short-term as well.