diff --git a/lib/valueflow.cpp b/lib/valueflow.cpp
index fb9f6dda7a1..967beaf3ea6 100644
--- a/lib/valueflow.cpp
+++ b/lib/valueflow.cpp
@@ -4099,6 +4099,8 @@ static bool isVariableInit(const Token *tok)
         return false;
     if (var->nameToken() != tok->astOperand1())
         return false;
+    if (var->isPointer())
+        return true;
     const ValueType* vt = var->valueType();
     if (!vt)
         return false;
diff --git a/test/testvalueflow.cpp b/test/testvalueflow.cpp
index 8305a63bc56..7fa28855eb1 100644
--- a/test/testvalueflow.cpp
+++ b/test/testvalueflow.cpp
@@ -3188,6 +3188,18 @@ class TestValueFlow : public TestFixture {
                "    return x;\n"
                "}\n";
         ASSERT_EQUALS(true, testValueOfXKnown(code, 3U, -1));
+
+        code = "A* f() {\n" // #14864
+               "    A* x{};\n"
+               "    return x;\n"
+               "}\n";
+        ASSERT_EQUALS(true, testValueOfXKnown(code, 3U, 0));
+
+        code = "A* f() {\n"
+               "    A* x{ nullptr };\n"
+               "    return x;\n"
+               "}\n";
+        ASSERT_EQUALS(true, testValueOfXKnown(code, 3U, 0));
     }
 
     void valueFlowAfterSwap()