S&P/ASX 200 Index (ASX: XJO) shares are down 0.4% to 8,635.7 points on Wednesday.
The share market has been volatile this year amid a metals rout in late January and the ongoing global oil shock.
ASX 200 shares are now in the red for 2026, down 1% in the year to date (YTD) at the time of writing.
However, brokers say the following three ASX 200 shares are on a completely different trajectory.
In fact, they reckon these stocks could more than double in value over the next year.
Let's find out why.
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Catalyst Metals Ltd (ASX: CYL)
The Catalyst Metals share price is $5.64, up 1.5% today, and down 24% in the YTD.
Morgans has a buy rating on this ASX gold mining share with a 12-month target of $15.13.
This implies a potential 163% capital gain over the next 12 months.
After reviewing the miner's 3Q FY26 report, Bell Potter said:
We maintain our BUY rating, with valuation supported by strong cash generation and a clear production growth pipeline, albeit with near-term cost pressures emerging.
Catalyst reported gold production of 26.1koz at an all-in sustaining cost (AISC) of A$2,901 per ounce for 3Q FY26.
Morgans said the miner generated solid operating cash flow of A$103 million at an average realised price of A$7,014 per ounce.
CYL continues to strengthen their balance sheet, adding A$39m during the quarter to close with A$277m in cash and bullion while reinvesting heavily across growth and exploration initiatives.
Growth momentum continues across the Plutonic Belt, with multiple new ore sources advancing (Trident, K2, Old Highway) alongside a high-grade discovery at Cinnamon, supports the pathway to c.200kozpa production.
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is $2.03, up 2% today and down 27% YTD.
Mesoblast specialises in allogeneic cellular medicines for severe inflammatory diseases.
Bell Potter has reaffirmed its speculative buy rating on this ASX 200 healthcare share.
The broker has a $4.45 price target on Mesoblast shares, suggesting a more than doubling in value over the next year.
Bell Potter said:
The company's future is looking brighter than ever with revenues expanding and new product approvals now well advanced for heart failure and chronic lower back pain.
At the very least, today's cash flow result should provide shareholders with confidence that MSB can generate earnings and cash flow positive operations from sales of Ryoncil alone.
Objective Corporation Ltd (ASX: OCL)
The Objective Corporation share price $10.69, down 0.09% today and down 35% YTD.
The ASX tech share hit a fresh 52-week low of $10.33 today.
Shaw and Partners reiterated its buy rating on Objective Corporation shares last week.
The broker has a price target of $22.10, implying a 106% upside ahead.
Last week, Objective Corporation founder and CEO Tony Walls spoke at Shaw & Partners' TechRise conference.
The broker said:
Management framed OCL as being in its strongest position in years despite broader SaaS disruption narratives, with FY26 ARR guidance unchanged at 10–14% and 15% reiterated as the core long-term target.
