The company continues to focus on growth areas such as health care, energy, alternative energy, and engines. CEO Jeff Immelt is still making good on his forecast from our exclusive interview earlier in the year of making selective acquisitions. That $20.50 objective target is also above the 52-week trading range of $13.75 to $19.70. This may actually be an under-weighted investment for Berkshire Hathaway.

6) Kraft Foods ( KFT) is Buffett's big food gamble. He also has trimmed it after saying the Cadbury deal was too expensive. With shares at $30.65, there is an implied upside of over 14% to the consensus price target objective of $35.06. Kraft is not overly expensive as it trades at about 14-times forward earnings expectations. The good thing about this DJIA component is that it offers investors a dividend yield of about 3.8%. The target price above $35 is one that stands out because the 52-week range is $26.40 to $32.67. The last time shares were above $35 was in 2006 and it was 2002 when shares traded in a range of $35 to $40.

7) Moody's ( MCO) is another position that may feel like a misnomer as Buffett has trimmed the stake down to about 28.8 million shares. At $26.97 the implied upside to the consensus target of $30.07 is 11.5%. This is also one position that is at the lower-end of the ten top upside picks and the risk-reward to much of the Moody's business models makes this a puzzling pick. We have even noted that it is one stock Buffett should unload. Still, this made the Buffett screen and it trades at about 14-times current year earnings estimates. The dividend yield is about 1.6% and shares have already been above the consensus price target as its 52-week range is $18.50 to $31.04.

8) Procter & Gamble ( PG) is shocking to see as a Buffett stock because the consumer products giant generally does not see huge share price swings. At $62.15, there is an implied upside of more than 14% to the $70.97 objective price target. This is one safe defensive stock that also offers growth and the 3.1% dividend has continued to grow and is expected to keep growing.

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