Revance downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Revance to Equal Weight from Overweight with a price target of $7, down from $10. Under the terms of the tender offer by Crown Laboratories announced in August, each share of Revance will be converted into $6.66 in cash, notes the firm, which does not expect the stock to trade on fundamentals anymore and sees “limited upside potential.”