Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.

Sobey's (TSX:SBY), a grocery retailer and food distributor in Canada, is the top conservative buy for 2007 from Yola Edwards. The technical expert and editor of Yola's Charts notes, "The U.S. economy's measured expansion suggests that we are probably in late stage expansion.

"Although the popularity of organic and trendy, prepared, affluent specialty food stores have flourished as shoppers spend more on high-end merchandise, competition and a consumer spending slowdown could see a shift to more conventional supermarkets, such as Sobeys.

"The company operates or franchises stores in all ten provinces under retail banners that include Sobeys, IGA extra, IGA, Foodland, and Price Chopper. The stock stock sports a 13.2 price to earnings ratio (P/E), certainly more attractive then 30 plus P/Es of high-end grocery retailers, but trading at a discount to conventional supermarkets.

Continue reading Top Picks 2007: Yola Edwards sees grocery growth

Top Picks 2007: Yola Edwards sees grocery growth originally appeared on BloggingStocks on Fri, 29 Dec 2006 08:30:00 EST. Please see our terms for use of feeds.