Benzinga | Jul 26, 2021 04:13PM EDT

ASM Global, Honeywell Form Strategic Alliance To Create Smarter, Safer Venues

* ASM Global inked a strategic alliance with Honeywell International Inc (NASDAQ:HON) to help create smarter, safer, and more sustainable venue operations and more enjoyable audience experiences across ASM's international portfolio.

* The agreement runs through 2027, no terms were disclosed.

* ASM Global will work with Honeywell to establish new standards related to indoor air quality, safety, and regulatory compliance for its VenueShield LIVE proprietary program for venue reopenings and operations.

* Honeywell will also create a custom, real-time Healthy Buildings dashboard for the VenueShield LIVE program to help ASM's facilities staff quickly identify and correct critical building controls issues.

* Additionally, Honeywell will work with the ASM Global venue network to deploy various technologies that support smarter, safer and more sustainable venues.

* Recent analysts Ratings for Honeywell: Deutsche Bank maintained buy and raised price target to $251, Credit Suisse maintained outperform rating and raised the price target from $244 to $247, RBC Capital maintained sector perform rating and raised price target to $231, and Barclays maintained overweight rating and raised price target to $253.

* Price action: HON shares are trading higher by 0.31% at $229.25 on the last check Monday.