"Even if Nokia shares climb 35% to €33 in the next 12 months, as Bernstein Research analyst Paul Sagawa expects, that would still amount to just 13 times his 2008 projection. Following Nokia's stellar second-quarter results, Sagawa last month raised his 2007 earnings estimates to €1.39, up from €1.29 and €1.87 for 2008, up from €1.59." "Even without big gains in the U.S., Nokia merits more star treatment from investors. It's a well-managed outfit with leading-edge products in a large and growing market that should allow it to mint money. Think Dell or Intel in their heydays. And trading at a discount to other tech giants' shares, the stock has room to put on its own show in the next few years."

Altria could rally to 87 in 12 to 18 months from a current 67, as the company buys in shares and cuts costs. Philip Morris USA is moving into faster-growing products like smokeless tobacco, while its international arm is pursuing growth in China.

"Smart Balance's shares, now above 11, could reach 15 or more within 12 to 18 months. But the real payoff might come later, in the form of a takeover by a large food company."

"Recently around 15, shares of Pinnacle airlines could hit 19 within a year. One bull even argues that, if the airline uses prudent leverage, the stock could go as high as 22."

"After struggling last year, Molson Coors (TAP) shares are up 22% in 2007, as the company starts to deliver on the promise of its merger. It has also outperformed larger rivals like Anheuser Busch (BUD). Still, at about 93, shares are trading at a moderate 15 times forward earnings."

"But NBTY shares have pulled back to trade at less than 13 times forward earnings, well below the 19.1 times for the personal-products segment. That's a deficiency that ought to be remedied."

"Western is now close to a five-year median of 12 times expected profits. Top dog Seagate (STX) was more expensive in May, but is now cheaper, at 10.3 times, which may make it worth swapping some Western stock for Seagate. And the drive industry remains one of boom and bust."