UPDATE: Fondsfinans Downgrades Royal Caribbean Cruises

According to a research report published earlier today, Fondsfinans has downgraded Royal Caribbean Cruises

from Buy to Neutral. In the report, Fondsfinans commented, "Our recent price checks, data from independent market observers and comments from Carnival all point to one thing: Discounts have accelerated to combat weaker cruise demand. This translates into reduced yield expectations and lower estimates. Demand has been sluggish as surging fuel prices, the European financial crisis and the Costa Concordia accident dented consumer sentiment. Higher oil prices and the fire on-board RCL's Azamara Quest (two cancelled departures) also contribute to an 20% reduction in 2012 EPS estimates and 18% down on 2013E." Royal Caribbean Cruises closed Friday at $27.30.