What happened Bausch Health Companies (NYSE: BHC) was a very healthy stock Wednesday. A bullish note from an analyst at an influential bank put some real zip in the shares, and they closed the day more than 8% higher. So what Analyst Chris Schott from JPMorgan Chase's J.P. Morgan pointed out in his note that a sum-of-the-parts calculation indicates to him that Bausch stock could be worth around $40 (although he's maintaining his $38 price target). That $40 is more than 50% above Monday's $26.10 closing price. The prognosticator is also maintaining his overweight (buy) recommendation on the stock. Image source: Getty Images. Much of Schott's estimate consists of the Bausch & Lomb eye care division, which he is assuming contributes $30 to that total. He values the Solta dermatology-device unit at $7 per share, with the company's pharmaceutical operations making up the remainder. As such, Bausch presents in his view an "attractive valuation argument" at a "fairly near-term time horizon over which this value could be realized." In other words, it's a buy on share price weakness that could see plenty of upside before long. Now what Bausch hasn't been a popular stock lately. Many investors clearly don't feel a looming split of the company into two component parts will improve either business. Meanwhile, Bausch's recent quarterly earnings reports have been disappointing, with a revenue-guidance chop in the most recent one, and a top-line miss in its predecessor. It remains to be seen whether Schott's new note will continue to bring the bulls back to the stock. 10 stocks we like better than Bausch Health CompaniesWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Bausch Health Companies wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of September 17, 2021 JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Bausch Health Companies. The Motley Fool has a disclosure policy.Source