Oppenheimer Asset Management's chief investment strategist, John Stoltzfus, has raised his year-end S&P 500 (^GSPC) target to 6,200, marking his third upward revision this year. Joining Market Domination, Stoltzfus broke down his bullish outlook and the key factors driving his forecast.

He outlines three main catalysts behind his decision to raise the target: Corporate America's second and third quarter revenue and earnings growth surpassing market expectations, the Federal Reserve's "remarkably successful" execution of monetary policy, and multiple economic indicators, including "business, consumer, and jobs, have all proven resilient."

His only concern is valuation. However, he adds "concerns about valuation [have been] essentially ameliorated by improved earnings, as the quarters of this year were reported.'

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This post was written by Angel Smith