U.S. stock markets have witnessed renewed momentum in the first half of 2024 after an impressive 2023. The bull run continued in the past 18 months, barring some minor fluctuations. This year's rally has taken a section of financial experts by surprise as they warned of a downside due to higher stock valuations and the Fed's decision to keep interest rates higher for longer than expected. Year to date, the three major stock indexes — the Dow, the S&P 500 500 and the Nasdaq Composite — have rallied 4.2%, 16.8% and 23.2%, respectively. The mid-cap benchmark — the S&P 400 Index — has also advanced 5.3% year to date. Within the mid-cap space, a handful of stocks (market capital > $8 billion< $10 billion) have the potential to become large caps in 2024. Investment in these stocks with the most favorable Zacks Rank should lead to handsome returns this year. Why Should You Invest in Mid-Cap Stocks? Investment in mid-cap stocks is often recognized as a good portfolio diversification strategy. These stocks combine the attractive attributes of both small and large-cap stocks. Top-ranked, mid-cap stocks have a high potential to enhance their profitability, productivity, and market share. These may also become large-caps over time. If economic growth slows down due to any unforeseen internal or external disturbance, mid-cap stocks will be less susceptible to losses than their large-cap counterparts owing to less international exposure. On the other hand, if the economy continues to thrive, these stocks will gain more than small caps due to established management teams, a broad distribution network, brand recognition and ready access to capital markets. Our Top Picks We have narrowed our search to five mid-caps that have strong potential for the rest of 2024. These stocks have seen positive earnings estimate revisions in the last 60 days. Finally, each of our picks sports a Zacks Rank #1 (Strong Buy). The chart below shows the price ...