Analyst Favors P&G (PG) And IBM (IBM)

According to Hank Smith, chief investment officer of Haverford Investments, GDP growth rates and estimates have been ratcheted up and he expects the trend to continue.

Talking with CNBC, he said that the fundamentals are looking good and the economy is expanding. He also expressed his satisfaction over the corporate performance. He particularly likes the consumer staples, technology and the health care sectors. He favored large-cap shares. His favorite picks include P&G (NYSE: PG), Abbott Labs (NYSE: ABT), IBM (NYSE: IBM) and Johnson & Johnson (NYSE: JNJ).