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
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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.