Jim Cramer Discusses Honeywell (HON)'s Quantum Computing Business

We recently published 14 Stocks on Jim Cramer’s Radar.  Honeywell International Inc. (NASDAQ:HON) is one of the stocks on Jim Cramer's radar.

Industrial conglomerate Honeywell International Inc. (NASDAQ:HON)’s shares are up by 4% over the past year and by 12.9% year-to-date. Most attention on the firm is due to its ongoing spinoff execution. For instance, JPMorgan upgraded the shares to Overweight from Neutral in January and increased the share price target to $255 from 218. The bank cited Honeywell International Inc. (NASDAQ:HON)’s order momentum and backlog as the reasons behind the optimism and suggested that the opacity surrounding its earnings due to the spinoff could create opportunities for investors. However, earlier in the month, Mizuho had trimmed Honeywell International Inc. (NASDAQ:HON)’s share price target to $240 from $250 and kept an Outperform rating. The financial firm adjusted the target due to its broader coverage of the industrial sector. Cramer discussed the spinoff and Honeywell International Inc. (NASDAQ:HON)’s quantum computing business:

“Well we have Honeywell for the trust and Honeywell did something I was hoping for. They have a thing called Quintinuum, yes, they have a quantum business, 53%, they’ve filed an S-1 to bring it public. And ever since then, it’s been to the moon Alice.”

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Disclosure: None. This article is originally published at Insider Monkey.