If you're looking to make your first investment into ASX shares and have $500 to spend, then it could be worth considering the three listed below.
Not only are they buy-rated by analysts, but they are high-quality companies with strong business models and positive long-term outlooks.
Here's what you need to know to them:
CSL Ltd (ASX: CSL)
This biotechnology company could be a top ASX share to buy according to analysts at UBS. The broker has a buy rating and $330.00 price target on its shares.
Its analysts are predicting high-teen earnings growth from CSL over the coming years. This is thanks largely to the company's key plasma business and the strong demand for immunoglobulins.
REA Group Ltd (ASX: REA)
Another ASX share to consider for a $500 investment is REA Group. It is the company behind the dominant realestate.com.au website and several international equivalents.
Morgan Stanley was pleased with its half-year results and feels very positive about its outlook. As a result, it recently put an overweight rating and $210.00 price target on the property listings company's shares.
Woolworths Group Ltd (ASX: WOW)
Over at Goldman Sachs, its analysts think that Woolworths would be a great ASX share to buy right now.
So much so, the broker has the supermarket giant on its coveted conviction list with a buy rating and $40.40 price target.
Its analysts "believe the business has among the highest consumer stickiness and loyalty among peers, and hence has strong ability to drive market share gains via its omni-channel advantage, as well as its ability to pass through any cost inflation to protect its margins, beyond market expectations."
