Updated from 12:07 p.m. EST
Goldman Sachs upgraded Pfizer from "Sell" to "Hold" on Monday, citing an anticipated restructuring by the New York-based drugmaker.
In a note to investors Monday, Goldman analyst Jami Rubin changed her "Sell" recommendation, issued Nov. 6, to "Hold," asserting that reorganization at Pfizer is "inevitable" given ever-increasing pressure as the company faces impending generic competition for its blockbuster cholesterol drug Lipitor.
In her note, Rubin said Pfizer's 7.8% dividend yield helps boost the share price in the short term but that the cost-cutting measures announced in January 2007 alone won't solve the company's longer-term problems.
Pfizer investors yawned at the upgrade, with the stock closing Monday's trading session down 8 cents, or 0.5% at $17.36.
Pfizer recently made the news after CEO Jeff Kindler said the drug giant was open to
large and small, prompting speculation over potential targets, including
, among others.
This article was written by a staff member of TheStreet.com.