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.
"If investors are looking for value in this market, it's hard to pass up the nation's largest drugstore chain -- Walgreen Co. (NYSE: WAG), my favorite more speculative idea for 2008," says Jim Stack, money manager and editor of InvesTech Market Analyst.
"Over the past 10 years, Walgreen's revenue and earnings-per-share have grown steadily at an average annual rate of 15% and 16%, respectively. Moreover, the company has competitive advantages that should help it maintain this enviable growth record.
"In particular the firm is noted for its customer-oriented philosophy and real estate acumen. It is adept at locating freestanding stores on prime corners, with each site required to meet multiple criteria based on traffic flow, demographics and other factors.
"In addition, Walgreen is innovative. The firm pioneered the concepts of a drive-thru pharmacy and keeping selected stores open 24 hours. It was also the first drugstore chain to offer prescription drugs in multiple languages.
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