Piper Jaffray Reiterates Overweight and PT of $95 on Monsanto

Piper Jaffray maintained its Overweight rating on Monsanto MON. At the same time, Piper Jaffray left its price target on the company's stock unchanged at $95. In a research report published today, Piper Jaffray states, "Monsanto's fiscal 3Q & 4Q results typically reflect seed returns from dealers who over-ordered to ensure supply. We believe that this year's replanting will result in lower quantities of seed returned to Monsanto, a positive for results in the back half. We maintain our Overweight rating and $95 price target." On Tuesday, Monsanto closed the day at $67.49. Its shares lost 0.73% in today's pre-market trading, however, sliding to $67.