Citi Maintains Hold on Pfizer

Citi is out with its report today on Pfizer PFE, maintaining Hold. In its report, Citi writes, "We rate the shares of Pfizer Hold/High Risk (2H). While we believe that PFE's strategy of downsizing the company back to its research roots moves the company in the right direction, we believe PFE could still face the challenge of growing its top-line off of a smaller post-patent expiry 2013 base. We expect PFE could need a sizeable acquisition to reach its goal." Citi maintains a $23 PT on PFE. At the time of posting, shares of PFE were trading pre-market at $18.69, down 1.68% from Monday's close.