UPDATE: Jefferies Color On FSLR Target Decrease

Jefferies, which lowered its PT on shares of First Solar, Inc. FSLR, is providing some color on the stock. “Some 2011 revenue/profitability is carrying over into 2012,” Jefferies writes. “This is not positive enough for the highest multiple and highest market cap solar stock, but given the policy-driven industry downturn in Q2, maintaining F11 guidance is not so bad.” First Solar currently trades at $127.58.