Markets rose after a lower open on Tuesday amid some profit taking on this 1-year anniversary of the March 2009 lows. Patrick Becker, chief investment officer at Becker Capital Management, and Alec Young, equity strategist at Standard & Poor’s, said there's still further room for growth.
“We think we can go higher,” Becker told CNBC.
“Dividend-paying stocks look attractive and we also think you’re going to see flows into the markets.” (Scroll down for Becker's stock picks.)
In the meantime, Young said he expects to see a trading range over the short term, but markets will eventually make new recovery highs on the S&P within the year. (See Young's sector picks & pans, below.)
“We’d expect the market to keep churning around for a while,” he said. “We need a little more evidence that the private sector’s healthy enough to keep this recovery going, as governments around the world start to pull the stimulus away.”
“Last week’s job report was a step in the right direction, but we need a bunch more of that as well as a very good first quarter earnings season to really help us punch through,” he added.
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No immediate information was available for Becker or Young.