Piper Jaffray Reiterates Overweight on Monsanto

Piper Jaffray is out with its report today on Monsanto (NYSE: MON), reiterating Overweight.

In its report, Piper Jaffray writes, "Reiterate OW as we see significant upside for new seed platforms and a robust product development pipeline. Maintain $90 PT based on 25x $3.21 FY13 EPS seeds & 12x $0.79 FY13 segment EPS chemicals."

Shares of MON closed Monday at $69.78, down 1.27% from Friday's close.