Some on Wall Road are receiving more and more bullish on the S & P 500 , elevating their value targets for the index. Oppenheimer Asset Management was the most current to do so. It amplified its year-end S & P 500 price goal from 4,400 to 4,900 — the best in CNBC’s Sector Strategist survey . That follows Citi increasing its S & P 500 goal to 4,600 past week from 4,000. Citi also hiked its mid-2024 target to 5,000 from 4,400. Money products and services firm Sanders Morris Harris is even additional bullish. Its chairman George Ball advised CNBC’s ” Road Signs Asia ” final week that he believes the S & P 500 can go up to 5,000 by calendar year-finish. That represents a probable upside of about 9% from Tuesday’s shut. The index has presently soared about 20% this 12 months. Ball claimed that forecast is “practical, not frothy.” He said that the year-to-date obtain has not recovered all of previous year’s losses, and earnings up coming yr are likely to be “rather a bit greater than” early projections. “If one particular appears to be like all around, company earnings are remarkably sturdy. Apart from energy the place comparisons with a calendar year in the past mirror product or service price tag weak point, most service and most production sectors are executing very well, far better than predicted,” Ball explained last week. “Barring an unforeseen or unforeseeable exogenous shock-war, purely natural catastrophe, condition, drought-the current market will carry on to waft upward. That spells 5,000 on the S & P 500,” he concluded. How to position for 5,000 Ball shared how to place for that situation — and the shares to buy. Mid-cap tech shares : Ball stated “mid tech is the fairness spot for tomorrow.” Big tech stocks have contributed to considerably of the gains this calendar year — though the rally is broadening out — but other nicely proven “but not gigantic” tech stocks have “additional premise seeking ahead.” “They have extra home to expand and are seeking profitability somewhat than earnings will increase,” Ball said. He named three examples: Telehealth enterprise Teladoc , promotion tech company The Trade Desk , and e-commerce company MercadoLibre . “All are down 70% or a lot more from the inflated highs of ’21, by way of up from the lows of ’22. Every has a fundamental organization proposition with a fantastic offer of unrealized scale,” Ball reported. Strength stocks: The S & P 500 electrical power subsector has underperformed this yr, gaining just 1% to day. But vitality stocks glance poised for “sneaky gains” for the rest of 2023, stated Ball. He likes Organization Items Partners , which yields 7.5% and just isn’t “specifically impacted” by oil prices. Crypto : A smaller placement in bitcoin is “value a speculators’ opportunity,” Ball mentioned. Hedge : Advising investors to hedge anyway Ball states the VIX , the volatility index, at 14 is an “outstanding security valve.” The VIX is greatly regarded by buyers as a gauge of uncertainty in the sector. It uses S & P 500 stock index alternatives prices to measure the market’s expectations of in close proximity to-time period volatility.