Stocks won't hit new highs anytime soon and 3 things mean the market is fairly valued, Wells Fargo says

Ian Ross Pettigrew/Getty, Tyler Le/BI

• The S&P 500 probably isn't hitting fresh highs anytime soon, according to Wells Fargo.
• A handful of headwinds will keep a lid on further gains, strategists said.
• The bank pointed to concerns surrounding a potential recession, AI, and geopolitical uncertainty.

The stock market's long winning streak may be done for now, Wells Fargo said.

The bank's strategists warned that stocks were unlikely to move significantly...