3 ASX shares you can confidently invest $500 in right now

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.”

The post 3 ASX shares you can confidently invest $500 in right now appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, and REA Group. The Motley Fool Australia has recommended CSL and REA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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