It's been a rollercoaster start to the year for most ASX shares. Concerns over the coronavirus shutdown smashed the S&P/ASX 200 Index (ASX: XJO), which slumped as low as 4,456 points on 23 March.
However, the recent bear market has created a lot of buying opportunities. Here are just a few ASX 200 shares I think could be on sale at bargain prices today.
3 ASX 200 shares on sale today
Webjet Limited (ASX: WEB) is one of the obvious candidates on sale today. Webjet shares have been smashed in 2020 and are down 65.71% this year at the time of writing.
The reality is that things have changed dramatically since the start of the year. And the outlook for the travel sector has also changed for at least the next 12 to 18 months. This means Webjet shares should rightly be valued lower in the wake of the COVID-19 shutdown.
However, I think the ASX travel share has been oversold and could be in the buy zone. Even if it's just domestic travel or across the ditch, we could see more bookings as restrictions ease and Australia's economy starts to open back up.
Stockland Corporation Ltd (ASX: SGP) is another ASX share that has been smashed in 2020. Stockland owns and operates shopping centres around Australia and therefore has a large exposure to the Aussie retail sector.
Aussie retailers were struggling even before COVID-19 took hold. However, things looked even bleaker in the wake of the pandemic. Stockland shares have fallen 41.13% lower this year (at the time of writing) but things are starting to look up, in my opinion. Restrictions are starting to be wound back and we could see sales bounce back quicker than expected.
Westpac Banking Corp (ASX: WBC) could also be an undervalued ASX bank share. I think there could be some short-term pain for the Aussie banks in 2020 but the longer-term outlook could be OK. At the time of writing, the Westpac share price is down 37.14% in 2020 and now could be a good time to buy for a sale price and hold for decades to come.
