By Debdeep Gupta | 03 Jul, 2024
PFC, REC soar 4% on 'buy' rating from Bernstein; up to 23% upside seen in power financier stocks
Shares of Rural Electrification Corp (REC) and Power Finance Corp (PFC) gained up to 4 percent on July 3 as Bernstein initiated coverage on both stocks with a 'buy' rating.The brokerage highlighted both power financiers as preferred plays in the power cycle, with investors potentially underestimating both the duration and intensity of the current cycle.Additionally, the perceived risk of non-perfo...