Kuehne + Nagel (logistics): An interesting position as logistics

Kuehne + Nagel (logistics): An interesting position as logistics are essential to international trade, but performance is sensitive to global economic cycles.

Rewards

Trading at 46% below estimate of its fair value
Earnings are forecast to grow 4.74% per year

Risk Analysis

Dividend of 4.32% is not well covered by earnings or free cash flows