UPDATE: Jefferies Downgrades Finisar to Hold

According to Jefferies, Finisar (NASDAQ: FNSR) is downgraded to Hold.

Jefferies said that its checks suggest that investors may currently underestimate the potential risks posed by the recently announced acquisition of Lightwire by Cisco. “We're now looking for full-year FY13 revenue and EPS of $1.18 billion and $1.45. We're also rolling out FY14 numbers. We're now modeling FY14 revenue and EPS of $1.26 billion and $1.55.”

Finisar closed yesterday at $23.02.

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