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.
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.