This post is part of a special annual report -- Top Stock Picks '09 -- in which TheStockAdvisors.com asked 75 leading newsletter advisors to select their favorite investment for the new year.

"Amedisys (NASDAQ: AMED), a provider of home health services," notes Richard Moroney, whose Upside Stocks newsletter uses a quantitative system to select high growth, smaller cap issues.

"The company operates more than 500 locations, focuses on Medicare-eligible patients because of favorable reimbursement rates as well as a large and growing patient base.

"The U.S. Census Bureau estimates that some 8,000 Americans will become Medicare eligible each day beginning in 2011. By 2030, nearly 58 million baby boomers will be eligible for Medicare benefits.

"In 2007, nearly 90% of the company's revenue was derived from Medicare. "Acquisitions and market-share gains should fuel strong results. In addition, Amedisys should benefit from an aging population beset by chronic illnesses.

"The company has developed specialized services that focus on high-cost diseases and chronic conditions. An estimated one-half of the U.S. population will have a chronic condition in 2020, or nearly 160 million people.

Health care has long been considered a recession-resistant business. Given the current economic challenges, it's little surprise that in our survey of favorite stocks for the coming year, a number of leading advisors turned to this classic defensive sector.

In this year's Top Stock Picks from 75 advisors report, we found an intriguing group of medical-related stocks, from speculation in emerging biotech to well-established pharmaceutical firms, and from medical products makers to medical services firms focused on increasing health care efficiency and early disease detection.

Mike Cintolo, editor of The Cabot Market Letter, thinks Myriad Genetics (NASDAQ: MYGN) could be a "big winner in 2009," The company is a lead in the new field of cancer predisposition testing. For Mike's full report, read Top Stock Picks '09: Myriad Genetics.

Chuck Carlson, editor of The DRIP Investor, sees both quality and potential in Bristol-Myers Squibb (NYSE: BMY). For Chuck's full report, read Top Stock Picks '09: Bristol-Myers Squibb.

MOST NOTEWORTHY: Quiksilver, Omniture and Crown Holdings were today's noteworthy upgrades:

• B. Riley upgraded shares of Quiksilver (NYSE: ZQK) to Buy from Neutral on valuation and to reflect the EPS catalyst and debt reduction associated with divesting Rossignol.
  
• Friedman Billings upgraded shares of Omniture (NASDAQ: OMTR) to Outperform from Market Perform following the recent pullback, as they believe the company is in its best competitive position ever, which should drive increasing win rates and help restore pricing power.
  
• Banc of America upgraded shares of Crown Holdings (NYSE: CCK) to Buy from Neutral to reflect the company's international exposure and believes metal packaging companies should be better able to manage input inflation.

OTHER UPGRADES:

• UBS raised AmerisourceBergen (NYSE: ABC) to Neutral from Sell.
  
• Stephens raised its rating on Amedisys (NASDAQ: AMED) to Overweight from Equal Weight.
  
• Nordstrom (NYSE: JWN) and JC Penney (NYSE: JCP) were upgraded to Buy from Neutral at Goldman Sachs.

MOST NOTEWORTHY: Time Warner Cable (TWC) and Molecular Insight Pharmaceuticals (MIPI) were today's more notable initiations:

• Time Warner Cable (NYSE: TWC) was initiated at Bernstein with an Outperform rating and $46 target, citing a compelling diversification alternative for cable/CMCS investors. Goldman started Time Warner Cable with a Neutral rating and $44 target.

• Molecular Insight Pharmaceuticals Inc (NASDAQ: MIPI) was initiated at RBC with an Outperform rating and $18 target. RBC said Molecular Insight is a leader in developing and commercializing superior radiopharmaceuticals for the treatment and management of life-threatening diseases. Jefferies initiated shares of Molecular Insight with a Buy rating and $20 target, saying Zemiva has blockbuster potential.

OTHER INITIATIONS:

• UBS started Amedisys, Inc (NASDAQ: AMED) with aBuy rating and $39 target.

• Goldman Sachs initiated TransCanada (NYSE: TRP) with a Buy rating.

• Credit Suisse initiated Tim Hortons Inc (NYSE: THI) with an Outperform rating.

• Pacific Growth initiated Ormat Technologies, Inc (NYSE: ORA) with a Buy rating.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).