These ASX shares have caught my eye this week. With upsides as high as 700% and robust business growth planned for 2026, this is where I'd be investing my money.
Electro Optic Systems Holdings Ltd (ASX: EOS)
EOS shares are catching headlines this week. At the close of the ASX on Thursday afternoon, the stock was 1.21% lower for the day at $9.90 a piece. But the dip has barely dented the electro-optic tech developer and producer's huge annual gains.
At the time of writing, the shares are 723.53% higher than this time last year.
This year, the business is well-placed to capture surging demand for defence stocks as global military spending hits all-time highs. And it already won some impressive contracts over the past 12 months.
Xero Ltd (ASX: XRO)
Xero shares slumped 4.12% to $103.16 at the close of the ASX on Thursday. And the stock is still 37.7% below its trading levels from this time last year after facing a number of headwinds and loss of investor confidence throughout 2025.
But I think the investor sell-off last year was unwarranted and overdone. The business looks to be stable and poised for an uptick in business growth this year. It's actively expanding and investing in new revenue streams.
I think Xero shares have the potential to double in value this year.
CSL Ltd (ASX: CSL)
I still have my eye on the ASX-listed global biotechnology company's shares. Like Xero, the business suffered several strong headwinds in 2025 that sent its shares spiralling.
But now, CSL is well-positioned for a boom in demand. The company is entering a key investment phase, which could help boost its financials, and I'd expect demand for its products and investor confidence to follow suit.
Metcash Ltd (ASX: MTS)
Metcash, a wholesale distribution and marketing company specialising in food, liquor, and hardware, suffered a 15% share price crash in late November following its subdued FY26 half-year results. But analysts seem confident the business can turn it around in 2026.
Unlike the stocks I've listed above, I don't think we'll see explosive numbers out of this ASX company's shares in 2026, but I do think we'll see consistent growth over the next 12 months, which will outpace the likes of supermarket giants Coles Group Ltd (ASX: COL) and Woolworths Group Ltd (ASX: WOW).
