Blackstone is predicting a market surge that could take out its S&P 500 year-end target earlier than expected.

According to the firm's investment strategist Joseph Zidle on CNBC's "Futures Now," there's a high probability the will break through 3000 within the next couple of months.

"What we have left for the rest of the year, I think, is going to be bullish with higher highs," said Zidle last Thursday. "Believe it or not, the best equity performance actually comes after a midterm election."

He also saw third and fourth quarter earnings as a positive catalyst for stocks.

But Zidle warned this year's strong numbers could emerge as a serious headwind next year in the form of inflation, and a 10-Year Treasury Note yield going as high as 3.50 percent over the next six to 12 months.

"My view is that there's more inflation out there than people are pricing in. Inflation is not strong, but it is very widespread. You can see it in oil and gas markets. You can see it in input prices," said Zidle.

In a special note to CNBC he wrote, "The tax cuts provided a boost to [earnings per share] this year that will make next year's EPS growth look like it's slowing to single digits. Profit margins will likely roll over as well due to higher input costs."