July 13 (Reuters) - Johnson Controls, the U.S. industrial conglomerate, could see its shares rise 20 percent within the next 12-18 months, partly thanks to a joint venture with China’s state-owned car maker, SAIC Motor, according to Barron’s financial newspaper.
In May, Johnson Controls entered its slow growing auto interior business into a joint venture with China’s SAIC. Johnson receives a 30 percent stake in the venture, which will generate about $7.5 billion in annual revenue when it gets started in 2015.
Johnson’s CEO, Alex Molinaroli, has also increased the company’s dividend by 16 percent and begun a $3 billion share repurchase program, the newspaper said. (Reporting by Liana B. Baker; Editing by Sandra Maler)