With June just around the corner, now could be a great time to consider where to put your money to work on the ASX.
If you've got $1,000 ready to invest, here are three ASX shares that analysts think could be smart additions to your portfolio. Here's what is being tipped as a buy:
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DroneShield Ltd (ASX: DRO)
DroneShield is a rising star in the defence technology sector, developing counter-drone solutions for governments, defence forces, and critical infrastructure. As drone usage grows in both commercial and military settings, so too does the demand for counter-drone systems to protect airspace and assets.
This has led to DroneShield's sales growing at a rapid rate this year. And with the company's sales pipeline remaining very strong and structural drivers being supportive of increasing demand, the company looks well-placed for growth over the remainder of the decade.
Bell Potter is bullish and has a buy rating and $1.50 price target on its shares.
Pilbara Minerals Ltd (ASX: PLS)
Another ASX share to consider in June is Pilbara Minerals. It is one of the globe's leading lithium miners, operating the world class Pilgangoora project in Western Australia.
Lithium is a critical input for electric vehicle (EV) batteries, and while prices have been volatile, global demand for lithium is expected to rise sharply over the next decade as the world transitions to clean energy and transport.
This could make it worth buying the lithium miner while its shares are down in the dumps. Bell Potter certainly thinks so. It has a buy rating and $2.00 price target on its shares.
ResMed Inc (ASX: RMD)
Finally, ResMed could be an ASX share to buy with that $1,000.
It is a global leader in sleep and respiratory care, providing CPAP devices, ventilators, and digital solutions for patients with sleep apnoea and chronic conditions.
While it has faced some pressure from concerns over emerging competitors, the underlying business remains strong, with robust recurring revenue from its device and software ecosystem.
In addition, ResMed's scale, trusted brand, and growing global presence position it well for the long term. Its focus on digital health, data integration, and patient monitoring also gives it an edge as healthcare becomes increasingly connected.
Goldman Sachs is a very big fan. So much so, it recently reiterated its conviction buy rating and $49.30 price target on its shares.
