Stocks should make new highs soon, closely followed strategist Jim Paulsen said Wednesday.
He's the second market watcher this week to tell CNBC's "Squawk Box" to expect a record run.
Paulsen, chief investment strategist at Wells Capital Management, sees the S&P 500 going to the 2,200 level, an advance of 4.75 percent from Tuesday's close, which saw the index break 2,100 for the first time since December.
The S&P on Tuesday was also less than 1.5 percent from last May's record 2,130.82 close.
Ebbing deflation fears, prospects for better earnings later this year and improving world economies are all reasons to believe U.S. stocks should climb, he said.