The following video is part of our "Motley Fool Conversations" series, in which Motley Fool industrials analyst Brendan Byrnes and technology analyst Andrew Tonner search for value in the market.

In today's edition, Brendan and Andrew look at a beat-down manufacturer that may provide some opportunity for investors. Delphi Automotive, a leading manufacturer of auto parts, launched its IPO two weeks ago, opening at $22 per share and at 4.4 times earnings. The company has dramatically changed its strategy since emerging from bankruptcy, opting to cut product lines and employ workers in lower-cost countries. Delphi also is aiming to increase its concentration in emerging markets. Delphi's stock is currently trading at around $20. Should the market be more excited about this IPO?

(Editor's note: Delphi hopes to see around 50% of its total future growth (not sales) from emerging markets in the future.)

Brendan Byrnes owns shares of Ford Motor, and Andrew Tonner owns no shares of the companies mentioned. The Motley Fool owns shares of Ford Motor. Motley Fool newsletter services have recommended buying shares of General Motors and Ford Motor. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.