The ASX 200 is packed with high-quality companies — but not all are trading at an attractive level.
For smart investors seeking long-term opportunities, a number of ASX 200 shares stand out for their earnings momentum, competitive advantages, or global scalability.
Here are five shares that could be smart buys right now according to analysts.
Aristocrat Leisure Ltd (ASX: ALL)
Aristocrat is a global gaming and digital content leader with a strong presence in both land-based gaming machines and mobile games. Its balance of recurring digital revenue and steady casino hardware sales gives it a diversified cash flow profile. With continued growth in the online segment and a strong pipeline of content, Aristocrat looks well positioned for the future.
Bell Potter is bullish and has a buy rating and $79.00 price target on its shares.
James Hardie Industries plc (ASX: JHX)
James Hardie is a building products company that dominates the North American fibre cement market. Despite housing market volatility, it continues to grow earnings through product innovation, margin discipline, and share gains in key regions. With signs of U.S. housing stabilising, this ASX 200 share offers a high-quality cyclical play with global earnings leverage and structural tailwinds.
Bell Potter rates its shares as a buy with a $63.00 price target.
Pro Medicus Ltd (ASX: PME)
Pro Medicus has become one of the ASX's true healthcare success stories. The company provides cloud-based radiology software to major hospital networks across the U.S., Europe, and Australia. With high margins, zero debt, and a sticky customer base, Pro Medicus continues to deliver contract wins and strong earnings growth. It also remains well positioned to benefit from global healthcare digitalisation.
Morgan Stanley has an overweight rating and $310.00 price target on the ASX 200 share.
TechnologyOne Ltd (ASX: TNE)
TechnologyOne is one of the ASX's most reliable compounding software companies. Its transition to a SaaS model has turbocharged recurring revenue, particularly from government, education, and utility clients. With strong operating leverage, high customer retention, and a track record of meeting or beating guidance, TechnologyOne remains a standout long-term compounder.
UBS has a buy rating and $42.20 price target on its shares.
Telix Pharmaceuticals Ltd (ASX: TLX)
Finally, Telix is one of the ASX's most exciting biotech names, focused on diagnostic and therapeutic radiopharmaceuticals. After commercial success with its prostate cancer imaging agent, Telix is expanding into new indications and markets. With strong earnings momentum and an expanding product pipeline, it is rapidly maturing from high-potential to high-performance.
UBS also rates this ASX 200 share as a buy with a $36.00 price target.
