--- binutils.orig/bfd/elf64-ppc.c	2017-03-08 15:44:25.132804697 +0000
+++ binutils-2.28/bfd/elf64-ppc.c	2017-03-08 15:44:54.596440794 +0000
@@ -14798,8 +14798,10 @@ ppc64_elf_relocate_section (bfd *output_
 	    break;
 
 	  if (bfd_link_pic (info)
-	      ? ((h != NULL && pc_dynrelocs (h))
-		 || must_be_dyn_reloc (info, r_type))
+	      ? ((h == NULL
+		  || h->dyn_relocs != NULL)
+		 && ((h != NULL && pc_dynrelocs (h))
+		     || must_be_dyn_reloc (info, r_type)))
 	      : (h != NULL
 		 ? h->dyn_relocs != NULL
 		 : ELF_ST_TYPE (sym->st_info) == STT_GNU_IFUNC))