Shares of General Electric co. jumped after a new analyst at UBS predicted a big comeback for the struggling conglomerate with a buy rating.

“We believe the stock is at a positive inflection point into 2020,” UBS analyst Markus Mittermaier said in note to investors, CNBC.com reported.

GE shares (GE) rose more than 1% in after-hours trading on Wednesday from its close of $10.97 a share. UBS’ price target, raised to $14 a share from $11.50 a share, represent a 26% climb from GE’s current levels.

“We question the depth of which consensus captures the ongoing GE evolution,” Mittermaier said. “Analyzing GE is not trivial and requires a detailed segment level analysis. This is what we have done. Our view is based on a multitude of proprietary data,” Mittermaier said.

“We expect the stock narrative to change from significant cash drag to successful transformation,” Mittermaier said.

The rating upgrade by UBS comes after GE last month hired shipping executive Carolina Dybeck Happe as its next chief financial officer, giving top boss Larry Culp a new partner to help tackle one of the trickiest turnaround efforts in corporate America.

Dybeck Happe, who has served as finance chief at A.P. Moller-Maersk A/S since January, will replace Jamie Miller in early 2020, GE said in a statement quoted by Bloomberg. The incoming executive will oversee GE’s global finance organization and activities including accounting, tax planning and internal auditing.

“She really understands how to put capital to work, how to manage balance sheets,” Culp said in an interview. “In addition, she is an operator.”

The move answers a question that has hung over GE since July, when Culp said he would seek a new No. 2 to help him turn the company’s fortunes around. Dybeck Happe, 47, will face major challenges from day one, including strained cash flow, a balance sheet weighed down by debt and federal investigations of GE’s accounting.

Culp said he considered both internal and external candidates as part of a “rigorous global search.”

GE shares surged 59% this year through Nov. 22, outpacing the broader market as GE partially rebounded from a deep slump.