For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My favorite conservative idea for 2008, Abbott Laboratories (NYSE: ABT), is a leading player in several growing health care markets, offering a wide range of prescription pharmaceuticals, nutritional and diagnostic products, and medical devices," says Jim Stack, money manager and editor of InvesTech Market Analyst.

"The company has a long history of stable sales and earnings growth fostered by its strong research and development program, acquisitions and global expansion. As a defensive health care play, we particularly like the diversification this company provides.

"It derives nearly 30% of profits from overseas markets, while pharmaceuticals account for 44% of sales, hospital products 20%, nutritional products 18% and diagnostics 15%.

"Currently, Abbott is enjoying double-digit sales growth in three of these four major divisions, and we expect this strength to continue at least through 2008. The company is a bright spot in the drug industry, which has been plagued in recent years by patent expirations and meager product pipelines.