Wall Street’s record-setting rally is due for a reality check, according to the latest report from Stifel’s Barry Bannister and Thomas Carroll.

The analysts have an average price target of $163.66, which implies a potential upside of 25% over the next 12 to 18 months. The Street-high target of $230 points to an even greater potential return of 75%, and while that seems ambitious in the short term, it's certainly on the table in the long run.

U.S. stocks edged back from their record heights in Wall Street’s final moves before an upcoming update on inflation.