Fall in REC & PFC is an “enhanced buying opportunity”: Bernstein

Bernstein says the sharp fall in the share prices of REC & PFC due to exposure to Adani Green Energy is an “enhanced buying opportunity”. REC is down 25% from peak. PFC is down 22% from peak. REC has a TP of ₹653 (33% upside) while PFC has a TP of ₹620 (37% upside).