A number of blue-chip ASX 200 shares have been hammered lower in the 2020 bear market.
The S&P/ASX 200 Index (ASX: XJO) fell 0.92% yesterday and is down 18.97% since the start of the year.
That has seen some of the biggest names shed billions in market value and seen widespread earnings downgrades amid the coronavirus pandemic.
But here are a few ASX 200 shares that I think have a fundamentally solid outlook for the long-term.
3 ASX 200 shares with solid long-term outlooks
There are a number of strong ASX 200 shares that have been beaten down lately. However, I think it pays to look at some of the largest blue-chip companies in these uncertain times.
The Woolworths Group Ltd (ASX: WOW) share price is one that I've got my eye on in 2020.
Shares in the Aussie retailer are up 2.99% in 2020, which admittedly doesn't sound that impressive. However, that's a relative outperformance of 21.96% compared to the benchmark index.
I think Woolworths could be one of those ASX 200 shares undervalued on a relative value basis. The Aussie retailer hasn't kept pace with fellow supermarket shares Coles Group Ltd (ASX: COL) and Metcash Limited (ASX: MTS) in 2020.
That could put Woolworths shares in the buy zone, given the outlook for Aussie supermarkets is relatively solid for the short and medium-term.
I think another Aussie blue-chip worth looking at is AGL Energy Limited (ASX: AGL). AGL shares are down 16.12% lower as the Energy sector has been smashed in 2020.
The ASX 200 energy group's shares could be in the buy zone for the long-term. After all, AGL is one of the largest energy retailers and generators in the country.
I think we will see strong demand for electricity and gas across eastern Australia over the long-term, which means now could be a good buying opportunity.
Finally, I like BHP Group Ltd (ASX: BHP) as another ASX 200 share to buy for the long-term.
I would put BHP in the "too big to fail" basket, given its size and how dependent the Aussie economy is on the minerals sector.
The BHP share price has slumped 20.89% lower in 2020 but I think it could still trend upwards in the long-term.
