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Stock Strategist

Year-Old IPOs That Deserve a Second Look

We found a few interesting ideas among 2004's new issues.

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Regular readers know that we like to find stocks of good companies at reasonable prices. Investors may associate initial public offerings (IPOs) with sky-high valuations, particularly among high-profile debuts in their first weeks of trading. We thought we'd check in on some IPO companies after the initial buzz subsided to see if we could find any attractive stocks.

During 2004, the IPO market came back to life with just over 200 new offerings after three tough years with less than 100 new offerings per year (200 per year is considered "average"). Of course, IPO issuance reached a fever pitch during the late 1990s and 2000, with almost 500 new offerings in 1999 alone. So far, 2005 is coming in a bit below normal, but it is still respectable, with roughly 130 companies going public so far.

Doug Lovett does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.