Could these ASX stocks really be set to double after crashing this week?

The S&P/ASX 200 Index (ASX: XJO) has fallen this week as eyes stay firmly placed on the conflict between the US and Iran.

According to the ABC, both sides maintain there is a ceasefire in place and as a second round of peace talks lingers.

This is despite the US announcing ships from all Iranian ports were under blockade. 

It appears this grey area is weighing on investor sentiment. 

On the positive side, during the week, several ASX shares received updated guidance from brokers. 

Some of these shares are expected to double in the next 12 months after experiencing heavy sell-offs recently.

Here are some of the latest recommendations. 

Cochlear Ltd (ASX: COH)

Cochlear shares have been some of the most heavily sold off in 2026. 

The ASX healthcare stock fell a further 4% yesterday, and is now down 63% this year. 

Most of this damage was done this week after the company significantly downgraded its earnings guidance.

So where does this leave the stock now?

Some brokers believe the sell-off has been overdone, creating a buy-low opportunity. 

This includes a recent buy rating from UBS analyst David Low.

Low has a 12-month target of $302 on this ASX 200 healthcare share.

This implies more than 200% upside over the next 12 months.

Buyers should be aware this optimism isn’t reciprocated everywhere, as Morgans rates the company as a hold. 

Black Pearl Group Ltd (ASX: BPG)

Black Pearl Group is a recently listed data technology platform provider. 

Bell Potter has been quick to get behind these ASX shares, with consistent buy ratings throughout 2026. 

This week, the broker retained its speculative buy rating on the ASX tech stock with an improved price target of $1.82 (from $1.76).

Yesterday, these ASX shares fell more than 12%, which has created even more upside for optimistic investors. 

It closed trading yesterday at 68 cents per share. 

If it reaches the price target set by Bell Potter, that would be a 168% rise. 

Generation Development Group Ltd (ASX: GDG)

Another ASX stock that fell significantly this week was Generation Development Group. 

The ASX financials company provides investment bonds and investment-linked lifetime annuities which offer innovative and tax-efficient solutions for wealth accumulation, estate planning and generating regular income in retirement.

Its share price crashed 22% on Wednesday following its March 2026 quarterly update.

Following this result, the team at Bell Potter reduced its price target on this ASX 200 stock to $6.20 (previously $7.40). 

However from yesterday’s closing price of $3.60, this updated target indicates an upside potential of 72%. 

The post Could these ASX stocks really be set to double after crashing this week? appeared first on The Motley Fool Australia.

More reading

• 2 ASX 200 shares newly upgraded this week
• What is Morgans saying about Cochlear and Northern Star shares?
• 5 ASX 200 shares with renewed buy ratings this week
• Cochlear stock down 40%: How much has this cost ASX investors?
• Broker reiterates buy ratings on 2 ASX shares

Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear. The Motley Fool Australia has recommended Cochlear and Generation Development Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.