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 stock for 2008 is Pfizer (NYSE: PFE)," says Nilus Mattive, editor of Dividend Superstars. "Everyone's heard of this company -- it's the largest pharmaceutical company in the world.

"The company boasts a stable of well-known drugs, including Viagra, Celebrex and its current best-seller, cholesterol-lowering agent Lipitor.

"Despite its bellwether status, investors haven't been too keen on Pfizer recently. They're concerned about generic competition for the company's Zoloft and Norvasc. And although Lipitor's patent expires in 2011, there are also worries about increasing competition in the cholesterol market. I can see why -- $12.9 billion worth of Lipitor was sold in 2006, more than any other single drug in the world!

"But here's what the naysayers are missing: The company has a deep product pipeline, with almost 200 compounds being explored. It's survived countless cycles. And it boasts a huge war chest that can be used for further R&D, acquisitions, share buybacks and dividend hikes.

"And let me tell you, Pfizer is truly a 'Dividend Superstar' – it's boosted its dividend payment in each of the last 40 years! What's more, the stock's current yield is more than double that of the S&P 500 and better than many of the rates being paid by other income alternatives.

So if you're looking for a beaten-down, economically-insensitive income stock, I think Pfizer is a great call for the year ahead."