UPDATE: Piper Jaffray Initiates Coverage on American Vanguard at Overweight

According to Piper Jaffray, American Vanguard AVD coverage is initiated at Overweight. Piper Jaffray said that it is initiating coverage of AVD shares with an Overweight rating and $18 price target. “We believe AVD shares are undervalued relative to the company's organic growth prospects over the next 12-18 months.” American Vanguard closed yesterday at $13.40.