UPDATE: Barclays Downgrades Weight Watchers, Cites Slimming Revenues

Barclays released a research note Tuesday in which the firm downgraded Weight Watchers (NYSE: WTW ) from Equal-Weight to Underweight and lowered the price target from $31 to $15, perhaps marking the first time the company is unhappy about weight loss. Barclays' Meredith Adler summarized the firms opinion stating, "We