0803 GMT - Bayer shares are likely to react positively to the German agricultural and pharmaceutical group's third-quarter results, analysts at J.P. Morgan say in a research note. The company lifted its underlying Ebitda guidance due to a better-than-expected performance in its pharma division, and its new outlook points to upgrades to consensus expectations, the analysts say. Moreover, both sales and underlying Ebitda for the third quarter exceeded consensus expectations. "Overall, we expect the results to be well received given the pharma-driven Ebitda beat and guidance raise, and expect the shares to outperform today by 2-3%," they add.