Jim Cramer: I Love the L Brands Upgrade

The L Brands (LB) - Get Report upgrade by Goldman Sachs is right on target, says TheStreet's (TST) - Get Report 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.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.