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These stocks are most likely to beat the Street this earnings season, Bank of America says

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Mike Blake | Reuters

Earnings season kicks off this week and Bank of America said stock pickers should focus on a handful of names that should beat the Street.

Investors have high hopes for the upcoming season. Consensus estimates for first quarter earnings have risen 6% over the past three months to $39.81 per share for the S&P 500. Bank of America noted that is the biggest upward revision in history.

"Earnings season is a good time to be a stock-picker," Bank of America equity and quant strategist Savita Subramanian told clients. "For short-term investors, stock differentiation is heightened during earnings season, particularly the busiest reporting days."

In order to take advantage of the heightened volatility, Bank of America screened the S&P 500 for stocks that are most likely to beat earnings expectations, according to the firm's proprietary criteria.

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