For investors looking to build wealth over the next decade (and beyond), the key is arguably to focus on high-quality businesses with sustainable competitive advantages and strong growth prospects.
But which Australian stocks offer this?
Let's take a look at three stocks that analysts think could fit that bill perfectly.
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Goodman Group (ASX: GMG)
The first Australian stock to look at is Goodman Group. It has long been one of the Australian share market's top property performers. This global industrial property powerhouse owns, develops, and manages real estate across key markets like Australia, the US, Europe, and Asia.
What sets Goodman apart is its strategic focus on high-demand, supply-constrained urban infill locations — the kind of assets that underpin modern e-commerce, data centre, and supply chain infrastructure. With tenants like Amazon and key logistics players, Goodman has benefited from strong tailwinds driven by the global shift to online shopping and the rising demand for last-mile delivery.
It is now turning its attention to data centres for the next leg of its growth, capitalising on the AI boom. In light of this, the company appears well-placed to continue delivering the goods for investors long into the future.
It is partly for this reason that Morgan Stanley has an overweight rating and $40.47 price target on its shares.
ResMed Inc. (ASX: RMD)
ResMed has been a standout performer for well over a decade. This Australian stock is a global leader in sleep apnoea and respiratory care devices.
These device sales are generating huge revenues which is being complemented by a recurring revenue model built on consumables and digital health solutions.
And with a growing global patient base, increasing awareness of sleep disorders, and an expanding software ecosystem that supports remote monitoring and care, ResMed is positioned to benefit from long-term structural health trends.
For buy and hold investors, this Australian stock could sleep soundly in your portfolio for years to come.
Macquarie has an outperform rating and $48.00 price target on its shares.
Telix Pharmaceuticals Ltd (ASX: TLX)
Finally, Telix could be an Australian stock to buy and hold. This emerging biotechnology company is focused on theranostics using targeted radiation to both image and treat cancers.
Its flagship product, Illuccix, is already approved and generating revenue in the US, and Telix continues to build out a growing pipeline of potential treatments across a range of cancers and rare diseases.
As global demand for precision medicine grows, Telix could well become one of Australia's next great healthcare success stories.
Bell Potter is bullish on the company and has a buy rating and $34.00 price target on its shares.
