Bank of America forecasts the S&P 500 will hit a target of 2,000 points by the end of 2014 and give an investors an 11 percent price return, the latest in a string of bullish market predictions for next year, the bank's head U.S. equity strategist told CNBC on Friday.
"Where we're sitting right now is really the sweet spot for equities," Bank of America's Savita Subramanian said Friday on "Squawk on the Street." "You've got a low but sort of a rising interest rate environment. You've got low contained inflation. And the beginnings of what look like an economic recovery. That's actually been a pretty good spot for equities historically."
(Read more: Goldman's Hatzius: Expect steady growth in 2014)