When it comes to building wealth, patience can be your greatest ally. While short-term market moves grab the headlines, the real magic of investing often lies in holding quality businesses for the long term.
Fortunately, the ASX is home to many shares that fit the mould of buy and forget. These are businesses with durable competitive advantages, strong growth potential, and the kind of resilience that can see them thrive across economic cycles.
With that in mind, here are three standout ASX shares that analysts rate as buys and could be worth holding for the next decade and beyond.
ResMed Inc. (ASX: RMD)
ResMed is a global leader in sleep and respiratory care solutions, with a strong foothold in the growing market for sleep apnoea devices. Its devices and cloud-connected software help millions of people manage chronic health conditions from home.
The good news is that demand for these solutions continues to rise as populations age and awareness of sleep disorders improves.
The ASX share has also been steadily building out its digital health ecosystem, giving it a significant edge over competitors. With high margins, strong cash generation, and a long runway for growth, ResMed looks well-positioned to deliver for investors over the long term.
The team at Macquarie is bullish on ResMed and has an outperform rating and $48.00 price target on its shares.
Transurban Group (ASX: TCL)
Another ASX share to look at is Transurban. It owns and operates some of Australia's most important urban toll road networks, as well as assets in North America.
Its portfolio includes 22 toll roads such as CityLink in Melbourne, Cross City Tunnel in Sydney, and AirportlinkM7 in Brisbane.
With long-dated concession agreements, pricing power through inflation-linked tolls, and predictable cash flows, Transurban has all the hallmarks of a reliable compounder. This could make it a top buy and forget option.
UBS thinks it could be an ASX share to buy. It has a buy rating and $14.85 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
Finally, WiseTech could be an ASX share to buy and forget. It is a software company with global reach, dominant market share, and wide margins. Its CargoWise platform is the backbone of global freight and logistics operations, and it is becoming increasingly critical as supply chains digitise.
What makes WiseTech so compelling as a long-term hold is its combination of sticky customer relationships, consistent revenue growth, and bold acquisition strategy, which continues to deepen its moat.
With international trade set to remain a structural growth theme, WiseTech could continue compounding at an impressive clip for many years to come.
Morgans Stanley is a big fan and has an overweight rating and $140.00 price target on its shares.
