“CLSA maintains an 'outperform' rating on Power Finance Corporation (PFC) but has trimmed its target price to ₹500 from ₹550, implying a 19.3% upside. This adjustment follows mixed Q1 results, characterized by muted disbursements, soft loan growth, and NIM pressure, though asset quality remained strong. The firm also cut FY27 PAT estimates by 2-3%.”