PFC and REC Shares Decline Following Morgan Stanley Downgrade

Shares of Power Finance Corporation (PFC) and REC fell by up to 3% after Morgan Stanley downgraded both stocks to Equal-Weight, citing slower loan growth and reduced earnings estimates.

20 Aug, 06:47 — 20 Aug, 06:47

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economic-times5d ago

Power Finance Corporation and REC shares fall up to 3% after Morgan Stanley downgrade

PFC and REC shares fell on Thursday after Morgan Stanley downgraded both stocks to Equal-Weight and cut their target prices. The brokerage flagged slower loan growth and lowered earnings estimates for FY28 and FY29. The downgrade comes ahead of the proposed PFC-REC merger, with both stocks already under pressure.

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PFC and REC Shares Decline Following Morgan Stanley Downgrade

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Power Finance Corporation and REC shares fall up to 3% after Morgan Stanley downgrade

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