Piper Jaffray Reiterates Overweight on Monsanto

Piper Jaffray is out with its report today on Monsanto 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.