The L Brands (LB) upgrade by Goldman Sachs is right on target, says TheStreet's (TST) Jim Cramer. L Brands was upgraded to a BUY from NEUTRAL at the investment bank. Goldman Sachs said the company, which operates Victoria's Secret and Bath & Body Works stores, posted second quarter results that reduced concerns about how disruptive the new promotional strategy at Victoria's Secret would be to business in general. L Brands reported second quarter results last week, beating analysts' estimates on both earnings and revenue.
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