Some on Wall Avenue are getting more and more bullish on the S & P 500 , elevating their value targets for the index. Oppenheimer Asset Administration was the newest to take action. It elevated its year-end S & P 500 value goal from 4,400 to 4,900 — the very best in CNBC’s Market Strategist survey . That follows Citi elevating its S & P 500 goal to 4,600 final week from 4,000. Citi additionally hiked its mid-2024 goal to five,000 from 4,400. Monetary companies agency Sanders Morris Harris is much more bullish. Its chairman George Ball instructed CNBC’s ” Avenue Indicators Asia ” final week that he believes the S & P 500 can go as much as 5,000 by year-end. That represents a possible upside of about 9% from Tuesday’s shut. The index has already soared about 20% this 12 months. Ball mentioned that forecast is “sensible, not frothy.” He mentioned that the year-to-date achieve hasn’t recovered all of final 12 months’s losses, and earnings subsequent 12 months are going to be “fairly a bit higher than” early projections. “If one seems to be round, company earnings are surprisingly strong. Apart from power the place comparisons with a 12 months in the past mirror product value weak spot, most service and most manufacturing sectors are doing effectively, higher than predicted,” Ball mentioned final week. “Barring an unexpected or unforeseeable exogenous shock-war, pure disaster, illness, drought-the market will proceed to waft upward. That spells 5,000 on the S & P 500,” he concluded. How you can place for five,000 Ball shared the way to place for that situation — and the shares to purchase. Mid-cap tech shares : Ball mentioned “mid tech is the fairness place for tomorrow.” Massive tech shares have contributed to a lot of the beneficial properties this 12 months — though the rally is broadening out — however different effectively established “however not gigantic” tech shares have “extra premise wanting forward.” “They’ve extra room to develop and are searching for profitability slightly than income will increase,” Ball mentioned. He named three examples: Telehealth firm Teladoc , promoting tech agency The Commerce Desk , and e-commerce agency MercadoLibre . “All are down 70% or extra from the inflated highs of ’21, via up from the lows of ’22. Every has a elementary enterprise proposition with quite a lot of unrealized scale,” Ball mentioned. Vitality shares: The S & P 500 power subsector has underperformed this 12 months, gaining simply 1% to this point. However power shares look poised for “sneaky beneficial properties” for the remainder of 2023, mentioned Ball. He likes Enterprise Merchandise Companions , which yields 7.5% and is not “immediately impacted” by oil costs. Crypto : A small place in bitcoin is “price a speculators’ likelihood,” Ball mentioned. Hedge : Advising traders to hedge anyway Ball says the VIX , the volatility index, at 14 is an “glorious security valve.” The VIX is broadly regarded by traders as a gauge of uncertainty available in the market. It makes use of S & P 500 inventory index choices costs to measure the market’s expectations of near-term volatility.