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Actionable news in WDC: Western Digital Corporation,

Western Digital (WDC) Stock Lower on BofA/Merrill Lynch Downgrade

NEW YORK (TheStreet) -- Shares of Western Digital (WDC - Get Report) are declining by 1.6% to $35.78 in early afternoon trading on Friday, following a rating downgrade to "underperform" from "buy" at Bank of America/Merrill Lynch.

Bank of America/ Merrill Lynch reduced its rating on the stock as it believes the company is facing near term earnings risk.

The firm sees a significant risk to the company's pro-forma estimates given the 36% cut to C2017 estimates. The firm also cited the different competitive dynamics in NAND and HDD as a reason for the rating slash.

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