Bildkälla: Stockfoto

NoHo Partners: Demand might return fast after restrictions ease - Nordea

Recent upticks in the number of new COVID-19 cases has caused further restrictions in the restaurant market, especially in Finland. NoHo secured short-term financing in February and we find the company well prepared for the eventual easing of restrictions.

The company expects the market to start recovering at the beginning of the summer, which is however highly dependent on the COVID-19 situation. Although H1 will remain difficult, we expect a fast recovery due to pent-up demand. The impact of opening restaurants might, however, still be subdued by opening hour restrictions.

We derive a fair value range of EUR 6.8-8.7 (previously 7.1-9.1). Marketing material commissioned by NoHo Partners.
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