Cramer said earlier this week that shares of Visteon ran to all-time highs on the news that its management may be considering a plan to split the company into two. But even with shares at these inflated levels, Cramer said Visteon deserves to see its shares trade even higher as the breakup plan would unlock a ton of value.

Visteon's management already has a long history of aggressively rewarding shareholders with big acquisitions and divestitures, Cramer said, so splitting itself is a real possibility. Currently, the company encompasses an electronics company and a climate control company, both of which are very exciting.

Cramer said Visteon's electronics business is benefiting from the boom in infotainment and driver information systems being added to vehicles. All cars are getting more electronics and Visteon has the scale to grow.

Then there's climate control, also in demand as hybrid and electric cars need battery cooling systems and hybrids also need new technology to manage climate when the engines are turned off to conserve fuel.

Just how much are these parts worth separately? Cramer said Visteon's climate control unit could fetch $95 a share while its electronics division is worth another $45 a share. Add the company's acquisition of Johnson Controls for another $17 a share and back out its debt of $25 a share and you get $132 a share, or 23% higher than where the stock trades today.