Top 5 ASX 200 Stocks to Watch in February 2026
Here are 5 ASX 200 stocks to watch in February 2026. These are growing, making new moves and showing strong performance across different sectors.
NEXTDC Limited (ASX: NXT)
NEXTDC Limited (ASX: NXT) announced the several major milestones in late 2025 and early 2026.
On 16 January 2026, it received the planning approval for its M4 Melbourne Data Centre at Port Melbourne.
Earlier, on 24 December 2025 its S4 Sydney Data Centre at Horsley Park gained State Significant Development approval.
On 22 December 2025, contracted utilisation rose 96MW to 412MW, lifting the forward order book to 301MW.
On 5 December 2025, NXT signed an MoU with OpenAI as an Australian infrastructure partner.
DroneShield Limited (ASX: DRO)
DroneShield Limited (ASX: DRO) is placed for strong long term growth as global demand for counter drone solutions accelerates.
As at January 2026, the company has a $2.09bn sales pipeline, record revenues, high gross margins (~65%) and a strong cash balance to fund expansion.
Selection on Australia’s LAND 156 panel announced on 15 January 2026 and new US legislation under the 2026 NDAA open large defence and law-enforcement opportunities.
Major manufacturing expansion, continued AI and hardware innovation, growing SaaS revenue and entry into civilian markets support scalable growth through 2030 and beyond.
Wesfarmers Limited (ASX: WES)
Wesfarmers Limited (ASX: WES) is is prepared for stable long term growth and is maintained by a strong balance sheet, well organized capital management and a strong portfolio.
Key growth is expected from Bunnings, Kmart, Officeworks and Wesfarmers Health through store expansion, digital investment, omnichannel sales and productivity improvements.
The Covalent lithium hydroxide plant is expected to grow a lot, with production increasing over the next 18 months.
Continued use of AI and cost-efficiency initiatives should help manage cost pressures. Wesfarmers’ 2026 half year results will be announced on 19 February 2026.
CSL Limited (ASX: CSL)
CSL Limited (ASX: CSL) is focused on sustainable long term growth and is supported by market leadership, a strong balance sheet and disciplined capital allocation.
Beyond FY26, CSL expects mid single digit revenue growth, expanding margins and high single digit profit growth and is supported by its leading immunoglobulin franchise, growing demand in HAE treatments and an expanding innovative product pipeline.
CSL is investing in improving donor experience, plasma collection and expanding future capacity to help the company growth.
CSL will announce its 2026 half year results on the 11 February 2026.
REA Group Limited (ASX: REA)
REA Group Limited (ASX: REA) reported the strong Q1 results for three months ended 30 September 2025.
Revenue was $429M increase of 4% YoY and EBITDA was $254M up 5% driven by the healthy property market demand and the increased adoption of premium products.
On 10 October 2025, REA acquired a 61.5% stake in iGUIDE for $55m, adding 3D virtual tours and property measurement tech.
For FY26, the group expects stable listing volumes, double digit residential Buy yield growth, a 7% Premiere+ price rise and mid to high single digit cost increases including iGUIDE consolidation.
(Source: Company announcements)
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