The Standard & Poor's 500 Index will reach 2,014 by the end of next year, matching the number of the year itself, Oppenheimer analysts predict.

That would represent an increase of 12 percent from 1,792 early Wednesday afternoon.

Improving fundamentals will push stocks higher, the analysts say in a report obtained by CNBC. "We continue to believe that US economic growth has in effect been 'primed' by the Federal Reserve's quantitative easing programs," the report says.

Editor’s Note: Weird Trick Adds $1,000 to Your Social Security Checks

"Recent improvements in the tone of U.S. economic data suggest to us that prospects are good for investors to see a continuation of the economic recovery that could drive earnings higher in the year ahead."

The economy grew 2.8 percent in the third quarter.

The 2,014 target represents an average of Oppenheimer's forecasts using a dividend discount model (1,967) and a price-earnings model (2,060). The exact average is 2,013.5.

Oppenheimer predicts the S&P 500 will hit 1,812 this year. If the index ends the year there, it will have gained 27 percent in 2013. And if the S&P then ends next year at 2,014, it will have increased 11 percent in 2014.

Stocks received support Wednesday from news that retail sales rose 0.4 percent in October.

"The fact that we’re seeing strength in the core retail numbers further supports the thesis that the U.S. consumer is doing better this year than perhaps throughout this entire recovery," Anastasia Amoroso, global market strategist at J.P. Morgan Funds, told Bloomberg.

"That’s a boost of confidence to the market."

Editor’s Note: Weird Trick Adds $1,000 to Your Social Security Checks

Related Stories:

• Robert Shiller: Stock Market Is in a Bubble
• InvestorPlace's Reeves: Stock Market Correction Is on the Horizon