The rally that took the stock market to repeated record highs in 2013 still has room to roll, says Thomas Lee, chief U.S. equity strategist for JPMorgan Chase.

He believes the Standard & Poor's 500 Index can reach 2,075 by the end of 2014. That would represent a 12 percent increase from Tuesday's close of 1,848.

"We're still bullish," Lee tells CNBC. "I think a lot of the things that were supporting stocks this year are still going to support equities next year."

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Those things are the fundamentals, Lee explains. "It's going to be driven by profit growth and some economic surprise."

The S&P 500 generated a return of 29.6 percent in 2013.

"We've looked at some classic bull markets, which this is really tracking closely," Lee notes. "In the sixth year, . . . maybe a third of the time you actually match the gains of the fifth year. So I think there's a one in three chance we're up 30 percent [next year]."

Lee is bullish for 2015 too.

"I still feel comfortable that we've got at least a couple years of very good markets."

He's not the market's only optimist.

"We certainly have had quite an impressive year, and obviously, a lot of that was helped by the central bank stimulus. Given what we've seen so far, the path of least resistance has been to go higher," Ryan Larson, head of equity trading at RBC Global Asset Management, tells Reuters.

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