CoreStates Financial Corp.'s ambitious cost-cutting plan won an upgrade Thursday from bank equity analysts at Goldman, Sachs & Co., but some other analysts were left cold by the news.

Goldman analysts Robert Albertson and Kimberly Rector lifted their rating to "trading buy" from "market performer," citing the plan to reduce CoreStates' work force by 19% and save $180 million over 21 months that was unveiled on Wednesday.

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