NEW YORK (TheStreet) -- Goldman Sachs upgraded International Rectifier  (IRF) to "neutral" from "sell" and set a $31 price target. The firm sees fair value in the Infineon bid.

The stock was flat in pre-market trading on Thursday.

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Separately, TheStreet Ratings team rates INTL RECTIFIER CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate INTL RECTIFIER CORP (IRF) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

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You can view the full analysis from the report here: IRF Ratings Report

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.