3 Blue Chip Stocks With Growth Potential You Can't Miss
Honeywell International (NASDAQ: HON), ABB (NYSE: ABB), and UPS (NYSE: UPS) are three companies that are attractive to long-term investors. All three companies have management teams with the opportunity and commitment to generate significant value for investors for many years. Moreover, they already have actions in place that will result in substantial profit growth.
Mature industrial conglomerates don't always have to be boring, low-growth affairs. Honeywell, for example, is teeming with growth initiatives, which management calls its "breakthrough initiatives." They include Honeywell's software business, Honeywell Connected Enterprise, which customers can use to transform their businesses digitally. Examples include generating efficiencies in the performance of a building's systems using a mass of data gathered through wireless-enabled sensors to create actionable insights.
Quantinuum is a high-growth quantum computing company majority owned by Honeywell that management believes will generate $2 billion in annual sales by 2026. Honeywell Unmanned Aerial Systems and Unmanned Aerial Mobility make avionics and propulsion systems for unmanned cargo vehicles and air taxis. The company recently inked a deal with Archer Aviation to provide technology on Archer's aircraft. Finally, its Sustainable Technology Solutions (STS) is a leader in renewable fuels, energy storage technology, and advanced plastics recycling. Management estimates STS will grow revenue from $200 million in 2021 to $700 million by 2024.
Source Fool.com
