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Three stocks including P&G just hit highs. Here's why there could be more upside

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The S&P 500 may still be 5 percent from its record high, but a handful of stocks have soared to highs, including Merck, Mastercard, P&G, Cisco and Estee Lauder.

div > div.group > p:first-child"> After a steep slide at the end of last year, the major averages have rebounded from their December lows, driven higher by a slew of strong earnings and easing geopolitical tensions.

Shares of the consumer staples giant have gained almost 8 percent this year, rising to an all-time intraday high of $100.45 on Feb. 25. "If it can rally further from here, it's going to attract some of the momentum money that it hasn't seen in several years," he said.

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