If you have $1,000 ready to invest, it can still go a long way in building a high-quality portfolio.
But where should you put it next week?
Here are three ASX shares that could be best buys right now according to analysts:
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NextDC Ltd (ASX: NXT)
The first ASX share that could be a strong option for a $1,000 investment is NextDC.
It operates data centres that provide the infrastructure required for cloud computing, artificial intelligence (AI), and enterprise workloads. As more businesses shift their operations online and invest in AI capabilities, demand for high-performance data centres continues to grow.
NextDC has been expanding its footprint across Australia and the Asia-Pacific and has built relationships with major cloud providers. It also has a significant pipeline of contracted capacity that is expected to convert into revenue over the coming years.
With demand for digital infrastructure increasing, the company appears well placed to benefit from long-term growth in data usage and AI adoption.
Morgans thinks its shares are undervalued. It currently has a buy rating and $20.50 price target on them.
Pro Medicus Ltd (ASX: PME)
Another ASX share that could be worth considering is Pro Medicus.
This healthcare technology company develops imaging software used by hospitals and radiologists. Its Visage platform allows clinicians to view and analyse medical scans quickly and efficiently.
What sets Pro Medicus apart is its capital-light model and strong margins. The company continues to win large contracts with major healthcare providers, which supports its long-term earnings growth outlook.
As medical imaging volumes increase and healthcare systems adopt more advanced digital tools, Pro Medicus could continue expanding its global footprint. This is especially the case given critical radiologist shortages.
Bell Potter is bullish on the investment opportunity here. It has a buy rating and $240.00 price target on its shares.
Xero Ltd (ASX: XRO)
A final ASX share to consider for the $1,000 investment is Xero.
It provides cloud-based accounting software to small and medium-sized businesses. Xero's platform helps users manage invoicing, payroll, and financial reporting, making it an essential tool for many businesses.
Xero benefits from a subscription-based model, which generates recurring revenue and supports long-term growth. It also has significant opportunities to expand internationally and increase revenue per user through additional features and services following recent acquisitions.
With digital adoption continuing across small businesses, Xero could remain a key player in the global accounting software market.
UBS is a big fan of the company and recently put a buy rating and $174.00 price target on its shares.
