diff --git a/bfd/ChangeLog b/bfd/ChangeLog
index c28f203a09c..df18d95717e 100644
--- a/bfd/ChangeLog
+++ b/bfd/ChangeLog
@@ -1,3 +1,10 @@
+2012-11-05  Andreas Krebbel  <Andreas.Krebbel@de.ibm.com>
+
+	PR target/14788
+	* elf32-s390.c (elf_s390_relocate_section): Set elf.dynobj for
+	local ifunc symbols.
+	* elf64-s390.c (elf_s390_relocate_section): Likewise.
+
 2012-11-05  Alan Modra  <amodra@gmail.com>
 
 	* configure.in: Apply 2012-09-10 change to config.in here.
diff --git a/bfd/elf32-s390.c b/bfd/elf32-s390.c
index d6eedfa7b53..7a9d89cea37 100644
--- a/bfd/elf32-s390.c
+++ b/bfd/elf32-s390.c
@@ -1013,6 +1013,9 @@ elf_s390_check_relocs (bfd *abfd,
 	    {
 	      struct plt_entry *plt;
 
+	      if (htab->elf.dynobj == NULL)
+		htab->elf.dynobj = abfd;
+
 	      if (!s390_elf_create_ifunc_sections (htab->elf.dynobj, info))
 		return FALSE;
 
diff --git a/bfd/elf64-s390.c b/bfd/elf64-s390.c
index 19926c69f2d..2b6d9bf1930 100644
--- a/bfd/elf64-s390.c
+++ b/bfd/elf64-s390.c
@@ -937,6 +937,9 @@ elf_s390_check_relocs (bfd *abfd,
 	    {
 	      struct plt_entry *plt;
 
+	      if (htab->elf.dynobj == NULL)
+		htab->elf.dynobj = abfd;
+
 	      if (!s390_elf_create_ifunc_sections (htab->elf.dynobj, info))
 		return FALSE;