Deutsche Bank raised its price target on Royal Caribbean Cruises (NYSE: RCL) to $135.00 (from $132.00) while maintaining a Hold rating.

Analyst Chris Woronka commented, "Dizzying Trading Swings Likely Relate to Reallocation Within Broader Space. Initial focus on a somewhat soft 3Q guide was replaced by optimism that the outlook for 2019 remains robust despite ongoing concerns about industry capacity growth. We would no longer classify sentiment on RCL as "fragile" the way we might have in May; it feels more in the "cautiously optimistic" zone now. We believe part of the renewed momentum in RCL is being fueled by weakness in gaming stocks, with considerable market cap displaced in recent days. We are stopping short of giving an all clear in terms of 2019; we want to gain more conviction that the booked position for '19 can sustain and bookings are not simply being pulled forward."