Stocks have reached record highs this year, with the S&P climbing past 1700 for the first time in its history.
And Goldman Sachs strategist David Kostin believes the fun isn't about to stop any time soon.
"We forecast a 4% rise through year-end and a 7% return during the next 12 months," he writes in a letter to clients.
Kostin's targets the S&P at 1750 in 6 months and 1825 in 12 months.
Kostin believes earnings growth through 2013 and 2014 will support "a continued market rally."
In his new US Monthly Chartbook, Kostin offers a list of the 40 stocks with the most upside relative to Goldman analysts' price targets.
One stock has the potential to surge 60% before it hits fair value.
40. National Oilwell Varco: 22.6% Upside
Ticker: NOV
Recent price: $70.17
Upside to target: 22.6%
The energy equipment maker saw a 18.3% YOY jump in quarterly revenue.
Source: Goldman Sachs
39. Bristol-Myers Squibb: 22.6% Upside
Ticker: BMY
Recent price: $43.24
Upside to target: 22.6%
Shares of the biopharmaceutical company are up over 30% year to date.
Source: Goldman Sachs
38. Applied Materials: 22.6% Upside
Ticker: AMAT
Recent price: $16.32
Upside to target: 22.6%
Shares of Applied Materials, a semiconductor manufacturer, have climbed 35% so far in 2013.
Source: Goldman Sachs
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