Arrange baguette slices in a single layer on a large baking sheet; broil 1 minute or until lightly browned. Remove from oven; turn over and broil 1 minute or until lightly browned. Remove from oven; cool on pan.
Fill a large skillet with water to a depth of 1 inch; bring to a boil over medium-high heat. Add asparagus; cook 2 minutes or until crisp-tender. Drain and plunge asparagus into ice water; drain. Chop asparagus to measure 2 cups. Place chopped asparagus in a bowl. Add oil, salt, and pepper; toss well to coat.
Top each bread slice with 1 rounded tablespoon asparagus mixture; place on a baking sheet. Sprinkle cheese evenly over crostini. Broil 1 minute or until cheese melts and begins to melt. Serve warm.