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 more conservative idea for 2008 is Cynosure (NASDAQ: CYNO)," says Ian Wyatt, editor of The Growth Report. "The firm's non-invasive systems are used worldwide by physicians and other practitioners for applications that include the treating of pigmented lesions, acne, wrinkles and the removal of unwanted hair.

"Currently, it has over 15 product lines catering to a market that is evolving from 60,000 dermatologists and plastic surgeons to over 800,000 physicians worldwide.

"A distinguishing characteristic of Cynosure in this dynamic and competitive market is that the firm offers multi-wavelength laser systems that can be used for multiple applications versus single applications associated with single-wavelength systems.

"Demand for non-invasive aesthetic treatment procedures can be seen quite clearly in the impressive financial results. For the nine months ended September 30, 2007, Cynosure reported revenues of $87.7 million, a 63% increase over the same period of 2006. Net income was $9.2 million versus a year-earlier loss of $2.2 million.

"The shares currently trade at 23 times the current year consensus analyst estimate of $1.41 per fully diluted share and 18 times the forward year consensus analyst estimate of $1.78 per fully diluted share.

"Product sales in North America, which are up 87% since last year, have fueled Cynosure's growth thus far in 2007. Revenues in North America increased due to an increase in the number of product units sold, a higher average selling price and the introduction of new products, such as the Smartlipo and Affirm systems.

"Cynosure is a fast growing company in an extremely fast growing market, we are initiating coverage on Cynosure with 'buy' rating and price target of $45. This conservative estimate represents a P/E roughly 25 times next year's earnings."