Hedge fund guru Leon Cooperman doesn’t think we’ll see a “raging” bull market going forward, but he is still finding pockets of value in stocks.

Cooperman tells CNBC that he sees good value in the financial, energy, and healthcare sectors right now. He says that because of continued (though tapered) stimulus from the Federal Reserve and above average profit margins, “one should mark down the multiple a bit” in determining the fair value of the market. He said that the proper market multiple is about 16 times earnings, with a consensus earnings estimate of about $117 per share, putting fair value for the S&P 500 around 1,870. “Is the bull market aging? Yes. Is it over? No,” he said. “Is it likely to rage from here? I would be highly doubtful. I think the market’s in a zone of fair valuation, and there’s no real reason for it to rage, in my opinion.”