Top strategists have gotten more optimistic on stocks, just as the S&P 500 has pulled back slightly from records, according to CNBC's latest Market Strategist Survey.
Since the last survey in early February, four of 16 market strategists CNBC surveyed in the last three days raised their targets for the year-end or next 12 months. This Tuesday, Barclays' Keith Parker also initiated a year-end forecast at the high end of the range — 2,525 — citing market expectations on the likelihood of tax reform.
The highest target remains Deutsche Bank's Binky Chadha's 2,600 forecast, while formerly bullish Tom Lee at Fundstrat still has the lowest target at 2,275. Right in the middle is Citi's Tobias Levkovich with a 2,425 estimate, just over 3.3 percent above Thursday's close of 2,345.96.
Raises since February:
* Middle of a 2,230 - 2,330 range
***Middle of a 2,300 - 2,400 range
The S&P 500 remains about 2 percent below its record hit on March 1, and is up 5 percent for the quarter, tracking for its sixth straight quarter of gains.
"I think the market will be more patient than people think" in waiting for policies like tax reform, Jeff Mortimer, director of investment strategy for BNY Mellon Wealth Management, told CNBC.
"I think the word used for markets this year will be 'resilient,'" he said. His year-end target is a range of 2,300 to 2,400.
In the last several months, several major Wall Street strategists have changed positions. As a result, Morgan Stanley was unavailable to provide a year-end target for this survey.