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NEW YORK (TheStreet) -- Shares of L Brands (LB) - Get L Brands, Inc. Report are falling by 1.68% to $77.95 on Tuesday morning, after the stock was downgraded to "neutral" from "buy" at Goldman Sachs.

The specialty retail company was also removed from the firm's "Conviction Buy" list.

Goldman Sachs slashed its price target on L Brands stock to $91 from $115.

L Brands is the parent company of the Victoria's Secret and Bath & Body Works retail chains.

The downgrade comes as the firm's feels last week's announced restructuring at the company's Victoria's Secret brand will pressure the store's near term comp sales growth, TheFly reports. This could result in multiple compression until visibility to comp re-acceleration gets better.

The company's changes to its Victoria's Secret unit are designed to increase focus on the brand's core merchandise categories and streamline operations.

The changes include restructuring the organization into three business units: Victoria's Secret Lingerie, PINK and Victoria's Secret Beauty. The company will also integrate the direct business as a primarily digital channel within the Victoria's Secret and PINK businesses to align with how customers engage with the brands.

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TheStreet's Jim Cramer, portfolio manager of the Action Alerts Pluscharitable trust, commented on L Brands today, saying: "Little disappointed that Goldman goes from 'Conviction Buy' to 'hold' L Brands. This stock has now been in just a tremendous vortex down."

"Victoria's secret is breaking out from PINK, I think that's very smart. I also like the Bath & Body Works...When this one settles down I think you want to take a look at it. But I understand right now Goldman's in control and they're very negative," Cramer continued.

Separately, TheStreet Ratings has set a "hold" rating and a score of C+ on L Brands stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.

The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and expanding profit margins. However, as a counter to these strengths, TheStreet Ratings finds that the stock has had a generally disappointing performance in the past year.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: LB

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