NEW YORK (The Street) -- On CNBC's "Cramer's Stop Trading" segment Thursday, TheStreet's Jim Cramer said Goldman Sachs' upgrade of Ralph Lauren (RL) - Get Report suggests some good news is coming for the designer and retailer of clothing, fragrances and home furnishings.

Goldman upgraded the stock Thursday to buy from neutral. 

"I think this is interesting," Cramer said. "Basically, when I read the piece, it said [Ralph Lauren stock] is just too cheap."

Cramer questioned that explanation. "Too cheap?" he said. "There's a lot of stocks that are too cheap."

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RL data by YCharts

"I think that this is what you do when you think something good is going to happen," Cramer said. "I just thought that was a red-flagged piece of research. When I read it, I said, 'I bet you there's more to it.' I can't pin it down. I'd be aware, but I think Ralph Lauren's going to bottom."

Shares of Ralph Lauren were up $4.30, or 3.4%, at $132.56 at around 11:36 a.m. EDT Thursday.

At the time of publication, Cramer's Action Alerts PLUS had no positions in stocks mentioned.