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Pro Analysis

Western Digital is downgraded after doubling in a year because that's 'as good as it gets'

The hard drive assembly line at Western Digital.
Shepard Sherbell | Corbis | Getty Images
The hard drive assembly line at Western Digital.

Jefferies lowered its rating on Western Digital to hold from buy, citing the risk of too much flash memory supply in the coming year.

The company reported better-than-expected fiscal third-quarter earnings Thursday. Western Digital manufactures hard drives and flash memory chips for smartphones.