NEW YORK (Reuters) - Hedge fund manager Leon Cooperman said on Tuesday he thinks the stock market is currently fairly valued but warned that people should not become “too exuberant” in the future.
Cooperman, who runs Omega Advisors, said he sees gains of roughly 5 percent to 6 percent in the stock market, and higher with dividends, hitting around 7 percent. Demand is sufficient to underpin prices, he added.
Cooperman noted he likes United Airlines, a stock that he sees trading at $100 within a year to 18 months, Shire Plc, First Data and energy companies Hessand WPX Energy, with oil prices rising.
Reporting by Svea Herbst-Bayliss; Editing by Dan Grebler