Piper Jaffray reiterated its bullish stance and hefty price target on First Solar (FSLR) this morning. The firm believes FSLR will guide higher for 2011 during an investor call on December 14th and that its North American project business will shield it from Euro exposure and declines in ASP. The firm estimates revenue of $3.9 billion and EPS guidance of $9.94 which is well ahead of consensus.