UPDATE: Jefferies Downgrades DuPont Fabros Technology to Hold

Jefferies lowers its rating on DuPont Fabros Technology

to Hold from Buy and cuts its price target by $3 to $24 the uncertainty surrounding its asset lease-up. Jefferies notes, "Post the 4Q earnings call, it appears leasing velocity at DFT's assets is slower than our expectations. We believe DFT is now a "wait and see" story as recent channel checks suggest leasing velocity may prove sluggish near-term." DFT closed at $24.36 a share yesterday.