Buying the rally? Not so fast. It's probably best to stay conservative, as the market remains wishy-washy — at best, Oliver Pursche, chief executive officer of Bruderman Brothers, said Tuesday on CNBC's "Closing Bell."
In line with his suggestion, Pursche said investors should stick with names that hold solid balance sheets and dividends. Kellogg and Pfizer both qualify, with the food manufacturing company making the "recession resistant" list. Still, he dismissed the chances of a recession in the U.S.
Pfizer's "dividend is terrific, [and] they've got some interesting things happening," Pursche added. "It's just a rock-solid balance sheet, with a lot of good stuff happening in terms of the internals of the company."
While Pfizer's stock rose more than 1 percent Tuesday, it's down more than 12 percent in the past 12 months. Notwithstanding, Pursche urges pharma investors hold the name in their portfolio.