Analysis Hanza: Lower tax increases share target price

Hanza reported somewhat higher revenues, but lower result in Q4 2019 than we had anticipated. Looking further ahead we see good cash flow generation, where the company has declined to work with cyclical sectors as automotive. Hanza will probably face lower tax rates going forward, which pushes up the share target price to SEK 23.7 per share in our Base case-scenario compared to previously SEK 18.5 per share. Read the full report here (Swedish).