If you're looking to make your first investment into ASX shares and have $500 to spend, then it could be worth considering the five 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)
The first ASX share to consider for a $500 investment is biotechnology giant CSL.
Macquarie is very positive on the company and believes it is positioned for strong earnings growth over the coming years. This is thanks largely to the company's key plasma business and the strong demand for immunoglobulins.
The broker currently has an outperform rating and $330.00 price target on its shares. It is also tipping its shares to rise to $500 in the coming years.
Lovisa Holdings Ltd (ASX: LOV)
This fashion jewellery retailer could be an ASX share to buy according to analysts at Morgans.
They like Lovisa due to its strong long term growth potential, which is being underpinned by its bold global expansion plans.
Morgans has an add rating and $36.50 price target on its shares.
REA Group Ltd (ASX: REA)
A third ASX share to consider for a $500 investment is REA Group. It is the company behind the market-leading realestate.com.au website.
Goldman Sachs is bullish on the property listings company and believes it "has one of the best risk/reward profiles in our domestic media coverage."
The broker currently has a buy rating and $221.00 price target on its shares.
Treasury Wine Estates Ltd (ASX: TWE)
Another ASX share that has been given the thumbs up by analysts is Treasury Wine. It is the wine giant behind popular brands including Penfolds, 19 Crimes, Blossom Hill, and DAOU Vineyards.
Morgans is positive on the company and highlights that "its targets for both of its Luxury wine businesses over the next few years were reiterated, and if delivered, will underpin double digit earnings growth out to FY27."
The broker has an add rating and $14.80 price target on its shares.
Xero Ltd (ASX: XRO)
A final ASX share to consider for a $500 investment is Xero. It is a growing cloud accounting platform provider.
Goldman Sachs is also positive on Xero due to its belief that it is "very well-placed to take advantage of the digitisation of SMBs globally." This is in an estimated total addressable market of 100 million small to medium sized businesses.
The broker has a conviction buy rating and $180.00 price target on its shares.
