There is nowhere for companies to hide with markets plunging following Brexit. Analyst Nicholas Heymann of William Blair discusses why General Electric Company (NYSE:GE) will break the trend and not be negatively affected by the U.K’s decision.

After attending the GE Digital investors meeting, GE’s up and coming software segment, the analyst expressed his positive outlook regarding GE Digital’s expansion in 2017 and 2018. The analyst believes that GE is currently the only “large-cap diversified industrial with a high potential to double” its stock price by 2020.

Britain’s recent decision to leave the EU has caused declines in markets all over the world . The analyst states that we will experience discrepancy between countries growth rates if countries follow U.K’s decision to exit the EU. Additionally, countries like Italy, Portugal, Spain and France, that have issues with their banking systems and high debt, will be hit hard if the Union is disassembled.

Despite the economic challenges regarding Brexit, the analyst holds that the decision will not seriously impede GE because European accounts are only one-seventh of its total sales. GE has also experienced a “reinvention” with the emergence of GE Digital. Heymann senses that GE’s stock is about set to enter a growth phase based “on a better understanding of and stronger earnings contribution from GE Digital.”

GE has shifted to growth in non developed countries, which has eased their correlation to global GDP growth. The analyst’s opinion is that this will be evident this coming year as he expects GE’s growth rate to accelerate, as the global economy continues its worry about Brexit.

Heymann strongly reaffirms his Outperform rating with a 12-month target price of $38, marking a 30% increase from current levels. Heymann has a success rate of 53% with an average return of 2.3% per recommendation.

According to TipRanks, out of the 11 analysts who have rated the company in the past 3 months, 45% gave a Buy rating, 45% gave a Hold rating and 10% gave a Sell rating. The average 12-month price target for the stock is $31.70, marking a 8.12% upside from current levels.Screen Shot 2016-06-28 at 11.44.26 AM