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 is Transocean (NYSE: RIG)," says resources expert Curtis Hesler, editor of Professional Timing Service.
"Long after the last field is discovered -- and probably after the last oil well runs dry -- treasure hunters will continue to drill for oil. The best potential will be offshore.
"Transocean, the world's foremost deep water driller, recently merged with Global Santa Fe, the world's principal shallow water driller. The combination resulted in a new company retaining the name Transocean.
"With crude oil hitting new highs, rig rental rates will continue to skyrocket in a market with a chronic shortage of rigs to hire. Additionally, there are simply some drilling jobs -- especially offshore -- that no one else is qualified to tackle.
"The new Transocean is unique. It is in a business with virtually no ease of entry, and it is on a strong growth path. If I were to buy one stock without regard to price for a long-term portfolio, it would be Transocean. It is now THE powerhouse in offshore drilling."
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