Stocks are up about 3 percent since the losses from the post-Brexit vote. Rob Lutts, chief investment officer of Cabot Wealth Management, tells CNBC's "Power Lunch" on Friday he expects another 8 percent gain from these levels and has a year-end target of 2,350 for the S&P 500.
"We believe quantitative easing is working and will eventually stimulate higher U.S. GDP growth," Lutts said.
In this environment, Lutts is looking at disruptors. "Disruptive companies that are solid growers are 'on sale' today," Lutts said.
A top pick for Lutts is Tesla Motors. "Electric energy platform is 4-5 times more efficient in the use of energy. Street analysts are too low in estimates," Lutts said.
Tesla is higher during trading, but is down 7 percent year-to-date.