UPDATE: Jefferies Color On FSLR 4Q

Jefferies, which lowered its PT on shares of First Solar, Inc. FSLR, is providing some color on the stock. “First Solar reported 4Q10 results Thursday after market close,” Jefferies writes. “We reiterate our Hold rating with slightly higher PT of $160 (from $154), reflecting higher EPS of $9.45 from $8.97. “On the margin FSLR reported an in-line 4Q10 with modestly higher EPS and lower revenue. FSLR is a low risk play in a high beta sector; its strong 2011 visibility largely counters macro concerns, but this is partially offset by project development risk and lower EPC margin.” First Solar closed Thursday at $164.68.