S&P/ASX 200 Index (ASX: XJO) shares have fallen lower in March, but that means there could be some bargains on the market. While some selling is justified, it’s rare that the market immediately prices things appropriately. So, where are the best buys in the ASX 200 right now?
3 ASX 200 shares that are undervalued right now
1. Transurban Group (ASX: TCL)
I think the Transurban share price could be good value right now. Shares in the Aussie toll-road operator climbed 2.62% higher today but remain 18.67% down since the start of March.
Transurban boasts a market capitalisation of $33.23 billion and a tidy 5.02% dividend yield. Of course, dividend yields can be deceiving in a bear market, but I still think it’s a good company. I think movement restrictions in the USA and Australia will hurt the ASX 200 group’s earnings and share price in the short-term.
However, we have to remember that buying and holding for the long-term is the focus. Once restrictions are lifted and life returns to normal, the current share price discount could be an absolute bargain.
2. National Storage REIT (ASX: NSR)
National Storage is one of those ASX 200 shares that has been a bit unlucky. The coronavirus concerns scuppered any potential buyout deal as its share price plummeted. However, I think the self-storage REIT still could be a great buy at the moment.
There is potential stress on Aussies with residential mortgages right now. Many people are facing the prospect of lost or reduced income in this difficult time. One silver lining is that there may be increased demand for storage facilities as people sell up or downsize.
That puts National Storage in the frame as a good ASX 200 share to hedge against the coronavirus and could be worth a look right now.
3. Qube Holdings Ltd (ASX: QUB)
Qube is a diversified logistics company which makes it an interesting proposition right now. Many businesses are facing potential supply chain disruptions as a result of COVID-19. However, I think that could lead to an increase in demand for Qube’s services.
If that turns out to be the case, the ASX 200 logistics group could be a screaming buy. The Qube share price is down 22.41% in March despite climbing higher today, and I think its shares could outperform in April.
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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Transurban Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.