(Adds average total revenue generated from Europe for the recommended companies.)NEW YORK ( TheStreet) -- JPMorgan's ( JPM) investment strategists are telling the bank's customers to buy large-cap cyclical stocks because those companies are largely immune to Europe's debt crisis. The New York-based investment bank's research shows that only 8% of S&P 500 companies' earnings per share are generated in Europe. That implies that $8.40 of $105 in 2012 EPS, the bank's estimate, will come from Europe. If European profits fall by a third, even a modest increase in the rest of the world would compensate for the loss.
5. Raytheon ( RTN) Company Profile: Makes air, marine and missile defense systems. 2011 Return: minus 3.1% Current Price (Dec. 13): $44.92 JPMorgan's 2012 Price Target/Upside: $52/15.8%
3. Starwood Hotels & Resorts ( HOT) Company Profile: Hotel company that operates under the names St. Regis, W, Westin, Sheraton and Element. 2011 Return: minus 25.2% Current Price (Dec. 13): $45.45 JPMorgan's 2012 Price Target/Upside: $60/32%
1. Lam Research ( LRCX) Company Profile: Supplier of wafer-fabrication equipment and services to the semiconductor industry. 2011 Return: minus 22.4% Current Price (Dec. 13): $40.18 JPMorgan's 2012 Price Target/Upside: $56/39.4%