The U.S. stock market has been hitting record after record, and its run is only going to continue, two investing pros told CNBC Friday.
In fact, the S&P 500 could hit 2,300 in 12 months, said Rob Lutts, chief investment officer at Cabot Wealth Management.
"The fundamentals underneath this market are remarkably strong," Lutts said in an interview with "Power Lunch."
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The monetary condition is "probably the most bullish in my career," he added. Plus, the earnings trend is positive and the market is fairly valued.
"You could have an 18 multiple on earnings estimated for the 12 months out, and that's how you get to 2,300," Lutts said.