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Bayer’s Forecast Lift Overshadowed by New Monsanto Provision

  • Company takes $706 million provision for legacy PCB products
  • Crop science unit is major growth engine with price gains
Herbicide Research Work at Bayer AG CropSciences Facility
Photographer: Alex Kraus/Bloomberg
Updated on

Bayer AG raised its forecast for the year but the stock fell as the company announced a provision for the environmental damage caused by some older Monsanto chemicals. 

The German company expects core earnings per share of about 7.30 euros on a currency-adjusted basis, up from the previous target of 7 euros, it said in a statement Thursday. The lift matched some analysts’ estimates.