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With the first quarter over and earnings reports ready to start rolling out fast and furious, many of the top companies we follow on Wall Street are making some changes to the lists of their high conviction stock picks for clients. With the market continuing to trade to near all-time highs, it makes sense to examine the lists and make some changes, as the rest of the year could have additional volatility as the political and world landscape looks to remain uncertain.

In a recent research note, the analysts at Merrill Lynch made a big move by adding a top software company to the firm’s well respected US 1 list of stocks to buy, which is the firm’s highest conviction ideas.

Salesforce.com Inc. (NYSE: CRM) reported solid fourth-quarter results as billings drastically improved, and it is the newest member of the US 1 stock portfolio. The company provides enterprise cloud computing solutions, with a focus on customer relationship management to various businesses and industries worldwide.

It offers enterprise cloud computing applications and platform services, including Sales Cloud that enables companies to store data, monitor leads and progress, forecast opportunities, gain insights through relationship intelligence and collaborate around sales on desktop and mobile devices.

The company also provides Service Cloud, which enables companies to deliver personalized customer service and support, as well as connect their service agents with customers on various devices; and Marketing Cloud, which enables companies to plan, personalize and optimize customer interactions.

The analysts noted in a recent report:

Coming out of Salesforce.com’s event, we believe the target to potentially 2x revenues over 3-4 years is credible. As the depth of Einstein capabilities gets assimilated in core products, customers are headed for a new wave of productivity.

Merrill Lynch has a $100 price target for the stock, while the Wall Street consensus target is $96. The shares closed Tuesday at $82.97.

We also screened the US 1 list for the other top technology and communication stocks in the portfolio.

AT&T

This company has had a nice run off lows posted in November but is still trading below levels printed last summer. AT&T Inc. (NYSE: T) is the world’s largest provider of pay TV, with TV customers in the United States and 11 Latin American countries. In the United States, the AT&T wireless network has the nation’s self-described strongest 4G LTE signal and most reliable 4G LTE. The company also helps businesses worldwide serve their customers better with mobility and highly secure cloud solutions.

With its shares trading at a very cheap 14.4 times estimated 2016 earnings, the company continues to expand its user base, and strong product introductions from smartphone vendors have not only driven traffic but increased device financing plans.

The company posted fourth-quarter adjusted earnings per share in line with analyst expectations, though its revenue fell short of Thomson Reuters consensus estimates and also was a slight drop from sales during the year-earlier quarter.

AT&T investors are paid a huge 4.71% dividend. The $46 Merrill Lynch price objective compares with the consensus price target of $43.05. Shares closed Tuesday at $41.69.

Broadcom

This stock has stayed on a roll this year and is expected to trade even higher. Broadcom Ltd. (NASDAQ: AVGO) is a leading designer, developer and global supplier of a broad range of analog and digital semiconductor connectivity solutions. Its extensive product portfolio serves four primary end markets: wired infrastructure, wireless communications, enterprise storage and industrial and other.

Applications for the company’s products in these end markets include data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems and displays.

The company produces radio frequency (RF) front-end for LTE-enabled Apple products. Wall Street estimates that the company does 15% of its total business with Apple. Top Wall Street analysts like the leadership in the mobile, data center and broadband markets, and especially in the RF arena. Many on Wall Street see a cyclical rebound in industrial and communications demand.

Despite recently doubling its dividend and raising its dividend payout ratio target to 50%, top analysts believe the company’s cash flow can continue to fund meaningful acquisitions.

Shareholders receive a 1.86% dividend. Merrill Lynch has a $260 price target. The consensus target is $248.39, and shares closed Tuesday at $218.96.

Facebook

The huge social media leader has continued to post gigantic numbers that have truly blown most of Wall Street away. Facebook Inc. (NASDAQ: FB) operates as a mobile application and website that enables people to connect, share, discover and communicate each other on mobile devices and personal computers worldwide.

Its solutions also include Instagram, a mobile application that enables people to take photos or videos, customize them with filter effects, and share them with friends and followers in a photo feed or send them directly to friends; Messenger, a messaging application for mobile and web on various platforms and devices, which enable people to reach others instantly, as well as enable businesses to engage with customers; and WhatsApp Messenger, a mobile messaging application.

Facebook also develops Oculus virtual reality technology and content platform, which allows people to enter an immersive and interactive environment to play games, consume content and connect with others. Most Wall Street analysts point to the fact that Facebook remains the top beneficiary of the adoption of mobile internet trends with total U.S. internet time spent on Facebook and Messenger.

Top Wall Street analysts feel that Facebook’s long-term forecasts are more easily attainable, especially as the company continues to grow and employ new platforms for online advertising. It should be noted that Facebook had grown to an astounding $411.9 billion market cap in less than five years.

Merrill Lynch has set its price target at a towering $165. The consensus target is $160.17, and shares closed Tuesday at $141.73.

The US 1 list has outperformed the S&P 500 since inception by a large margin. The stocks are again among the highest conviction picks at Merrill Lynch and make good additions to any growth portfolio.