In a new report, the analysts at Deutsche Bank move their exposure on the industrial sector from Overweight to Equal Weight. Banks and technology are upgraded to Overweight and are expected to outperform for the summer and the rest of 2013. Dividend guidance and hikes from technology, as well as earnings strength from the banks, are the main drivers for their rotation.

Here are the technology and banking stocks to buy from Deutsche Bank.

Citigroup Inc. (NYSE: C) has shown tremendous earnings strength, both domestically and around the world. The Deutsche Bank price target here is $53. The Thomson/First Call estimate is right in line at $53.

J.P. Morgan Chase & Co. (NYSE: JPM) recently received a vote of confidence for CEO and Chairman Jamie Dimon from none other than Warren Buffett. The Deutsche Bank target for the stock is $53, while the consensus is at $55.50. Investors receive a solid 3.20% dividend.

U.S Bancorp (NYSE: USB) is a Midwest mega-regional bank that makes the list. With its more than 3,000 branches in the Midwest and the West, earnings have been solid. The Deutsche Bank price objective is $38. Consensus is at $37. Investors are paid a 2.40% dividend.

Fifth Third Bancorp (NASDAQ: FITB) is another solid regional name to make the list. With shares recently hitting 52-week highs, the bank has seen solid insider purchasing. Deutsche Bank has a $17 target. The consensus estimate is at $18. Investors are paid a 2.60% dividend.

The PNC Financial Services Group Inc. (NYSE: PNC) rounds out the bank stocks to buy. Led by CNBC regular and Wall Street favorite Jim Rohr, the bank has continued to raise earnings and dividends. Deutsche Bank has a $74 price target, while the consensus is at $72. Investors receive a 2.60% dividend.

Qualcom Inc. (NASDAQ: QCOM) leads off the technology stocks to buy. Qualcomm is a major force in the high-mobility business, selling the smarts in smartphones and the intelligence in tablets. Deutsche Bank has a $78 price target. The consensus for the name is $76. Investors are paid a 2.20% dividend.

EMC Corp. (NYSE: EMC) is the leader in storage and also a majority owner of cloud software company VMWare Inc. (NYSE: VMW). Deutsche Bank has a $28 price target. The consensus target for the stock is higher at $29.

Google Inc. (NASDAQ: GOOG) makes the list. With everything from Internet search domination to Google Glass to YouTube, this may be the leading technology stock to own for years to come. Deutsche Bank has a $930 price target. The consensus is at $900.

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) provides information technology (IT), consulting and business process outsourcing services worldwide. Deutsche Bank has a $92 price target, while the consensus is at $86.

International Business Machines Corp. (NYSE: IBM) completes the list of tech stocks to buy. Big Blue has become the preeminent technology services company in the world. The Deutsche Bank price objective is $225. The consensus is right in line at $225. Investors are paid a 1.90% dividend.

Clearly the Deutsche Bank list is dominated by mega-cap stocks that are the leaders in their respective sectors. Investors, especially those with a long-term objective, can feel comfortable buying these stocks at this level. It may be wise to buy half positions now, and see if we do indeed experience the 5% pullback that Deutsche Bank expects.

24/7 Wall St. praises dividends. We also want to call out the myriad of great companies that need to realize that times demand investor payouts. A few companies are still buying growth, and we have identified some of these players as well. The thesis behind offering a solid dividend is that it instills confidence in investors that the company has earnings visibility for years even when the business cycle slows.

Having a real dividend policy may also be the key to keeping nervous investors from fleeing and going into cash or Treasury bonds, which pay almost nothing these days. There are just still too many companies in denial that they are still growth companies when they need to start directly rewarding shareholders. Some companies can get away without paying out a single cent to owners because the value of growth is so strong. That list is shrinking these days. Most companies we identified are in what we would call the “Dividend Sinners” category.

Our review focuses on Amazon.com Inc. (NASDAQ: AMZN), Bed Bath & Beyond Inc. (NASDAQ: BBBY), Berkshire Hathaway Inc. (NYSE: BRK-A), Dollar General Corp. (NYSE: DG), Dollar Tree Inc. (NASDAQ: DLTR), eBay Inc. (NASDAQ: EBAY), Electronic Arts Inc. (NASDAQ: EA), EMC Corp. (NYSE: EMC), Express Scripts Inc. (NASDAQ: ESRX), Jack in the Box Inc. (NASDAQ: JACK), Teradyne Inc. (NYSE: TER), United Continental Holdings Inc. (NYSE: UAL), Yahoo! Inc. (NASDAQ: YHOO) and Zebra Technologies Corp. (NASDAQ: ZBRA). We have handicapped whether investors might expect a dividend in the near-term or long-term from each of these as well.

The first order of business is to identify some of the great companies that have started paying a dividend since we (and others) have called for them to act with dividend payments in the past year or two. A few would include Apple Inc. (NASDAQ: AAPL), Dell Inc. (NASDAQ: DELL), Cisco Systems Inc. (NASDAQ: CSCO), Amgen Inc. (NASDAQ: AMGN), Symantec Corp. (NASDAQ: SYMC) and NASDAQ OMX Group Inc. (NASDAQ: NDAQ).

Among the obvious stocks hurt by the collapse are PC makers Hewlett-Packard Co. (NYSE: HPQ), Dell Inc. (NASDAQ: DELL), Microsoft Corp. (NASDAQ: MSFT), Intel Corp. (NASDAQ: INTC) and Advanced Micro Devices Inc. (NYSE: AMD). The drop in sales probably hit Microsoft worst of all this morning, after the company’s stock was downgraded to Sell by analysts at Goldman Sachs. There are several other stocks, though, that will be hurt by the fall in PC sales.

Chip stocks that are taking some lumps today include Nvidia Corp. (NASDAQ: NVDA), down about 2%, and Marvell Technology Group Ltd. (NASDAQ: MRVL), down about 1%. Nvidia’s graphics chip business and Marvell’s disk drive controller shipments are both in jeopardy from falling PC shipments.

Disk drive makers Seagate Technology PLC (NASDAQ: STX) and Western Digital Corp. (NASDAQ: WDC) are both being hit by the lack of PC shipments. Seagate’s shares are down 3.8% and Western Digital’s shares are down about 3% this morning. Storage systems giant EMC Corp. (NYSE: EMC) is down less than 1%, but its business depends less on PC sales than on sales of servers and mainframe computers.

HP’s first quarter shipments were down by 23.7% year-over-year in the first quarter, according to IDC, while Dell shipments fell nearly 11%. Among other PC makers, Acer’s shipments fell more than 31%, and Asus shipments dropped nearly 20%. Not a pretty picture.

Microsoft shares have been hit hard, down 5% to $28.78, in a 52-week range of $26.26 to $32.89. An IDC executive noted, “[T]he Windows 8 launch not only failed to provide a positive boost to the PC market, but appears to have slowed the market.” That’s terrible news for the software giant that cannot seem to break into the smartphone and tablet markets and grab any kind of serious market share.

HP’s shares are down about 6%, at $20.96 in a 52-week range of $11.35 to $25.40. The company managed to hold off Lenovo to maintain its position as the world’s largest PC maker, but that is probably cold comfort today.

Dell is down just 0.5%m at $14.14 in a 52-week range of $8.69 to $16.61. Dell’s price is propped up by the outstanding buyout offer from founder Michael Dell and his partners. But the company’s largest business is clearly in serious trouble.

In a new report, the equity strategists at UBS A.G. (NYSE: UBS) point out that the global tech sector has underperformed the world stock sectors by 11% (total return) over the past year. In addition, tech’s forward price to earnings (P/E) is below the market’s for the first time in 17 years. For most investors, those would seem contrary statistics, given the explosion of smartphones and tablet sales.

The software and services research teams at UBS are broadly positive for the second half of 2013, expecting improving revenue trends driven by a ramp in contract renewals and improved business confidence. We reported earlier this week that the Swiss bank had launched coverage of the Internet & Interactive Entertainment group with a positive stance. This underperformance gives investors an attractive entry point for a sector that can move fast with economic tailwinds.

The follow are the technology names to buy from the UBS Global Top 40 Stock list.

Networking market leader and longtime performance laggard Cisco Systems Inc. (NASDAQ: CSCO) tops the UBS list. Trading at a reasonable 12.20 times earnings and offering shareholders a 2.70% dividend, Cisco’s shares have been in a slump for years, trading as low as $15 last summer. The UBS price target for the stock is $25. The Thomson/First Call estimate is right in line at $24.

Cloud software leader VMware Inc. (NYSE: VMW) is a new addition to the UBS global top 40 stock list. Having traded as high as $118.79 in the past year, the stock has declined almost 35% and shares sit just above a 52-week low. The UBS price objective for this subsidiary of storage giant EMC Corp. (NYSE: EMC) is $115. The Wall St. consensus price target is $100.

Semiconductor equipment manufacturer KLA-Tencor Corp. (NASDAQ: KLAC) has a place at the UBS table. KLA has enjoyed a superb run since the lows of the market in 2009. With an anticipated pick up in worldwide semiconductor production, their diagnostic equipment may be in high demand. The UBS price target for the stock is $58. The consensus estimate is $61.

San Diego-based Qualcomm Inc. (NASDAQ: QCOM) makes the UBS list, and many others on Wall St. This wireless semiconductor company is a leading provider to companies making and selling smartphones and tablets. The UBS price objective for this top stock to buy is $76. The consensus estimate is at $76.50.

Cyber security has become a huge business and government priority. Check Point Software Technologies Ltd. (NASDAQ: CHKP) makes the UBS list for just that reason. After it has been battered down more than 30% from its 52-week high, investors may have a solid entry point at these levels. The UBS price target for Check Point is $62 and the consensus estimate is right at $55.

Rounding out the UBS stocks to buy list is Fidelity National Information Services Inc. (NYSE: FIS). With more than 35,000 employees, this Jacksonville-based industry giant offers banking and payments technology solutions worldwide. While the UBS price target is $42, the consensus estimate is $41.

For investors, the ability to buy quality technology stocks at bargain price points is always welcome. The stocks on the UBS list represent not only what seems to be good bargains, but also the opportunity to buy sector market leaders in their respective areas. That could bode well, especially if an anticipated second half of the year pick-up in tech business emerges.

These are some of this Wednesday’s top analyst upgrades, downgrades and initiations seen from select Wall St. research calls.

AngloGold Ashanti Ltd. (NYSE: AU) cut to Neutral at Credit Suisse.

Apollo Global Management L.P. (NYSE: APO) named Bull of the Day at Zacks.

Astex Pharmaceuticals Inc. (NASDAQ: ASTX) started as Outperform at RBC.

Atmel Corp. (NASDAQ: ATML) raised to Outperform with $8.25 price target at FBR Capital Markets.

Boston Scientific Corp. (NYSE: BSX) cut to Neutral from Outperform at Credit Suisse (FULL SUMMARY).

Caterpillar Inc. (NYSE: CAT) cut to Neutral from Buy at Goldman Sachs.

Cedar Fair L.P. (NYSE: FUN) started as Neutral at Goldman Sachs.

Charles River Laboratories International Inc. (NYSE: CRL) cut to Sell from Neutral at Citigroup.

Cigna Inc. (NYSE: CI) cut to Neutral at Citigroup.

Cubist Pharmaceuticals Inc. (NASDAQ: CBST) cut to Sell from Hold at Cantor Fitzgerald.

Duke Energy Corp. (NYSE: DUK) cut to Neutral at Goldman Sachs.

EMC Corp. (NYSE: EMC) maintained Outperform but target price cut to $28 from $30 at Oppenheimer.

Gold Fields Inc. (NYSE: GFI) cut to Neutral at Credit Suisse.

NextEra Energy Inc. (NYSE: NEE) raised to the Conviction Buy List with $84 price target at Goldman Sachs.

Panera Bread Co. (NASDAQ: PNRA) raised to Market Perform from Underperform at Raymond James and reiterated Outperform and price target raised to $200 from $190 at Oppenheimer.

Six Flags Entertainment Corp. (NYSE: SIX) added to the Conviction Buy List at Goldman Sachs.

Tumi Holdings Inc. (NYSE: TUMI) started as Outperform with $26 target at Credit Suisse.

TCF Financial Corp. (NYSE: TCB) cut to Perform at Oppenheimer.

Xcel Energy Inc. (NYSE: XEL) raised to Buy with $32 target at Goldman Sachs.

UBS gave two great lists. One is a list of stocks that still has 25% or more in upside. A second is the antithesis with a list of stocks to sell from its “least preferred” list.

Here are the 10 things at hand right now that wreck the bull market.

Hopefully the lists do not really need much of an explanation. The nine most widely held are: Apple Inc. (NASDAQ: AAPL), Microsoft Corp. (NASDAQ: MSFT), Google Inc. (NASDAQ: GOOG), Qualcomm Inc. (NASDAQ: QCOM), Oracle Corp. (NASDAQ: ORCL), International Business Machines Corp. (NYSE: IBM), Cisco Systems Inc. (NASDAQ: CSCO), EMC Corp. (NYSE: EMC) and Visa Inc. (NYSE: V).

What Credit Suisse was trying to show is that it found that six stock names were on its list of Rising Stars and seven were on the list of Fading Stars. Rising Stars from the technology sector include several Internet software and services names such as Facebook Inc. (NASDAQ: FB), Yahoo! Inc. (NASDAQ: YHOO), eBay Inc. (NASDAQ: EBAY), Google Inc. (NASDAQ: GOOG) and LinkedIn Corp. (NYSE: LNKD). Credit Suisse said that the Fading Stars from the sector include Intel Corp. (NASDAQ: INTC), Microsoft Corp. (NASDAQ: MSFT), AutoDesk Inc. (NASDAQ: ADSK), Hewlett-Packard Co. (NYSE: HPQ), Western Union Co. (NYSE: WU), KLA-Tencor Corp. (NASDAQ: KLAC) and VeriFone Systems Inc. (NYSE: PAY).

Performance has been lackluster also. The report said:

The most widely owned big cap stocks within large cap funds lagged the broader S&P 500 and Russell 1000 indices in 4Q12 due to poor performance in October and December. So far in 2013 these names have continued to lag, despite outperforming in February… Rising Stars fared well in 4Q12 and have continued to outperform so far in 2013, though the group is lagging in March. Fading Stars have lagged in both 4Q12 and early 2013, though performance has improved in March.

As a reminder, evaluating portfolio holdings at this point does have a one-quarter look back. These are still the most recent holdings available.

In a new report, one firm on Wall St. is not only forecasting the beginning of a new secular bull market, but it is raising the bar for all-around equity performance in 2013.

The U.S. equity strategy team at Deutsche Bank A.G. (NYSE: DB) has not only raised their target for the S&P 500, but they have substantially raised their first quarter gross domestic product forecast from 1.7% to 2.3%. Stronger U.S. growth, and particularly the upturn in business spending, underlies their boost to 2013 estimated S&P earnings per share to $109 from $108.

In addition, they expect the S&P 500 to make secular bull market advances this spring and boldly go where it has never gone before. Their target for 2013 is now 1,625, almost 70 points higher than Friday’s 1,556.89 close, or an additional 4.5% on top of this years 8.39% gain. They acknowledge their tactical call is difficult, but they think the S&P 500 climbs higher this spring before suffering a 5% or more dip. It could be a “sell in May and go away” (for a while) situation.

This is all great news for stock investors. The question is where to best place the capital in a portfolio to take advantage of a secular bull market? The Deutsche Bank team has a plan. Their advice is to participate in the likely grind higher over the next couple of months with overweights in financials, tech and industrials. They see the best reward/risk at the large enterprise spending exposed tech stocks.

Also Read: Enduring Eight Tech Stocks to Buy.

To play the secular bull market, the Deutsche Bank analysts stress five specific areas to invest in:

1. Global Growth — stocks with high foreign and export sales. The names from their list of stocks to buy that may fit this best are Honeywell International Inc, (NYSE: HON), General Electric Co. (NYSE: GE), International Business Machines Corp. (NYSE: IBM) and Qualcomm Inc. (NASDAQ: QCOM).

2. Capital Expenditure (CAPEX) — stocks with high exposure to investment spending. Investors may want to consider United Technologies Corp. (NYSE: UTX), Illinois Tool Works Inc. (NYSE: ITW), EMC Corp. (NYSE: EMC) and Accenture PLC (NYSE: ACN).

3. Dividend Growth — stocks with ability to raise dividend payout ratios. In this category the Deutsche Bank list of stocks to buy suggests Citigroup Inc (NYSE: C), Allstate Corp. (NYSE: ALL), Intel Corp. (NASDAQ: INTC) and Amphenol Corp. (NYSE: APH).

4. Debt Capacity — stocks that can issue cheap debt for acquisitions or buybacks. Investors should consider Rockwell Automation Inc. (NYSE: ROK), Precision Castparts Corp. (NYSE: PCP), Google Inc. (NASDAQ: GOOG) and Microsoft Corp. (NASDAQ: MSFT).

5. Economic Profit Growth — above average PE stocks justified by value added growth. In this category the Deutsche Bank list of stocks to buy has solid names like Wynn Resorts Ltd. (NASDAQ: WYNN), Viacom Inc. (NASDAQ: VIAB), Schlumberger Ltd. (NYSE: SLB) and Cognizant Technology Solutions Corp. (NASDAQ: CTSH).

The past 13 years have provided investors with gut-wrenching bear market sell offs that have challenged even the staunchest equity advocates to throw in the towel. History tells us that the average length of the three previous secular bear markets was 18 years. Nobody can say for sure if the current secular bear market has come to an end. One thing investors need to keep a very close eye on is a substantial breakout above the old 2007 highs. Even if we do experience an expected 5% decline, that may be the chance to buy the stocks to add for the new secular bull market run.

In a new report, analysts at Deutsche Bank A.G. (NYSE: DB) highlight stocks to buy in this growing space. They agreed with EMC and VMW’s list of major information technology (IT) spending themes. And they note that the biggest secular growth investment opportunities in the networking universe are in:

1. Rollouts of nextgen mobile-aware and application-aware networks
2. The network as a rich source of analytics
3. Build outs of scale-out enterprise and telco cloud data centers

They were also dismissive of the consensus bear case arguments that understate the incumbency advantage of market leaders such as Cisco Systems Inc. (NASDAQ: CSCO) and F5 Networks Inc. (NASDAQ: FFIV), given the need to implement “robust” operational models for running cloud-scale data centers. They were also very bullish on these market leaders.

Cisco Systems Inc. (NASDAQ: CSCO) is rated Buy at Deutsche Bank, with a $24 price target. The Thomson/First Call consensus for the networking giant is also $24.

F5 Networks Inc. (NASDAQ: FFIV) is also a stock to buy, with a $116 price target. The Wall St. estimate for F5 is $113.50.

Though it is only rated Neutral with $19 target, the Deutsche Bank team thinks product wins for Juniper Networks Inc. (NYSE: JNPR) are a distinct possibility. The consensus price target for Juniper is higher at $22.50.

We recently reported on the adaptation of enterprise flash drives as an important trend in storage and networking. Flash is an important new technology for the enterprise that will reduce, though not eliminate, the need for hard disk storage. NAND flash supply, though not sufficient to replace a high percentage of all hard drives, is enough to have a significant high-end enterprise impact.

So who will be the first to integrate flash to their storage products? The likely candidates are, of course, the industry leaders like EMC Corp. (NYSE: EMC). EMC has a consensus price target of $30. Many firms believe the stock is very undervalued as its large ownership percentage of VMware Inc (NYSE: VMW) is not fully appreciated. The consensus price target for VMware is $100. If analysts are correct here, this could be a 20% gain for investors.

NetApp Inc (NASDAQ: NTAP) is another storage firm likely to incorporate flash into its product line. With industry leading network storage solutions, NetApp has a consensus price target of $40 and is a top pick at many Wall St. firms.

The bottom line for investors is new technology that expands capacity and capability will always win. Integrating flash into storage is an example of the kind of new technology that can help change the face of an industry. With mobility, cloud-scale data centers and a flood of innovation on the horizon, we may be at just the beginning of the data revolution.

While the Dow Jones Industrial Average and the S&P 500 have hit new highs, the once-dominant Nasdaq is a long way from 5,000. However, new research from UBS A.G. (NYSE: UBS) suggests that large cap tech may become a new market leader.

In numerous reports out today, the tech analysts at UBS stress new opportunities at the leading large cap tech companies. As we have reported at length, the advent of smartphones and tablets, and the ability for consumers to access data and content anywhere and anytime, have created new channels of growth that large companies are exploiting.

Storage leader EMC Corp. (NYSE: EMC) has taken its majority holdings in VMware Inc. (NYSE: VMW) to parlay a hardware-software relationship that is a model for the tech industry. Yesterday EMC and VMware held their 2013 Strategic Forum for Institutional Investors. VMware sees 2014 to 2016 revenue growth of 15% to 20%, versus a 2014 growth estimate of 15%. VMware sees non-GAAP operating margin improving to 32.5% to 33.5%. EMC reiterated previous raised guidance. With acquisitions, analysts believe EMC can grow at a 11% to 12% compound annual growth rate over the next five years. Additionally, operating leverage and gross margin expansion from mix (software) may drive earnings growth of 12% to 18%. The UBS price target for EMC is $28.50. The Thomson/First Call estimate is $30 on the stock.

The EMC and VMware spun off The Pivotal Group to form a new Web-focused software company that could eventually go public, illustrating both companies’ push to help manage more online information will also help drive earnings. The UBS price target for VMware is $115. The Wall St. consensus price target is $100.

UBS also thinks Oracle Corp. (NASDAQ: ORCL) is a stock to buy now for 2013 gains. UBS cited expanding product sales and easy comparisons to last year, and the software giant has evolved into a large cap value play with a large recurring revenue base. The UBS price target is $30. The consensus is right in line at $38.

The UBS analysts also point to a positive corporate spending tone for 2013 that may bode well for Microsoft Corp. (NASDAQ: MSFT), International Business Machines Corp. (NYSE: IBM), Cisco Systems Inc. (NASDAQ: CSCO), Intel Corp. (NASDAQ: INTC) and even personal computer laggard Hewlett-Packard Co. (NYSE: HPQ).

For investors looking to invest in a stock market that is hitting new all-time highs seemingly every day, one important point to take into consideration is relative value. Large cap technology stocks have underperformed the broader market in the rally that started in 2009. They are cash rich and have consistent business models that allow for growth. This can lead to solid gains as the bull market rolls on.

The team at UBS reports that information technology executives tell them that storage technology is undergoing more change now than in the past 10 years cumulatively. In their opinion, increasing use of flash drives is the most important trend for the next few years. The question whether flash is a disruptive or sustaining innovation is critical to assessing whether incumbent vendors can successfully adapt or whether storage upstarts will displace them.

Flash is an important new technology for the enterprise that will reduce, though not eliminate, the need for hard disk storage. NAND flash supply, though not sufficient to replace a high percentage of all hard drives, is enough to have a significant high-end enterprise impact.

So who will be the first to integrate flash to their storage products. The likely candidates are, of course, the industry leaders.

EMC Corp. (NYSE: EMC), which closed yesterday at $24.30, has a Thomson/First Call price target of $30. Many firms believe the stock is very undervalued as its large ownership percentage of VMware Inc (NYSE: VMW) is not fully appreciated.

NetApp Inc (NASDAQ: NTAP) is another storage firm likely to incorporate flash to their product line. With industry leading network storage solutions, NetApp closed yesterday at $34.55 and has a Wall St. consensus price target of $40.

UBS also expects that International Business Machines Corp. (NYSE: IBM), Hewlett-Packard Co. (NYSE: HPQ) and Dell Inc. (NASDAQ: DELL) will incorporate these new technologies in an effort to win back storage share. But UBS is of the opinion that these companies face an uphill battle in this storage war.

There is also the question of who could lose in this proposition? If there is lower demand for hard drives, both Western Digital Corp. (NASDAQ: WDC) and Seagate Technology PLC (NASDAQ: STX) could lose market share. This could make for an interesting pair trade. Investors buy the stock of EMC or NetApp and sell short an equal amount of shares in one of the disk drive makers.

The bottom line for investors is new technology that expands capacity and capability will always win. Integrating flash to storage is an example of the kind of new technology that can help change the face of an industry.