Some advice

[NodachiSam]

I would go for Italy like the others say. They have good lands and are good for making a trading network too. I wouldn't touch the English if you are using that area that water to get trade income.

If you are feeling really confident you can try smashing a hungarian army up to weaken their lines and possibly get a nice ransom. You'll get an excommunication warning so leave them alone for a while and maybe try to secure a truce. I would only do it if you feel confident about being able to set the hungarians back for a while. The following year invade Italy without getting another warning.