Shares of General Electric Company (GE)  were flying Monday, up 3.25% at one point and ending higher by 2.12% to $14.42 at Monday's close.

That's not something we see everyday for the stock.

Helping sentiment is a research note from Nicholas Heymann, an analyst from William Blair. He's feeling better about GE stock and makes the case that shares can head to the $20 to $22 range, TheStreet's Jim Cramer pointed out on CNBC's "Stop Trading" segment.

A few positives that Heymann sees going for GE stock? Oil prices increasing certainly helps, as should the three new directors the company just added. GE's aviation and health care segments should also continue to do well.

No stock falls 50% over the course of a year because things are going great and Heymann acknowledges that hurdes still exist. However, he contends that shareholder and bondholder lawsuits can be resolved without materially impacting the financials, while its pension obligations could shrink throughout the year.

Finally, he says its ability to generate cash flow and pare down assets is improving at a better-than-expected rate, Cramer noted.

This note is a "backlash against the negativity," said Cramer, who also manages the Action Alerts PLUS charitable trust portfolio. While other analysts have made the case that it may be time to buy GE stock, Heymann's most recent note seems a step above the rest in terms of research quality.

This research note does not jive with the idea that GE needs to do a secondary offering and slash its dividend, although Cramer acknowledged that he still thinks the company may need to raise capital.

Of course, the immediate argument to owning GE stock will be on trade concerns, Cramer concluded. The anti-globalization chatter could hurt General Electric, as former CEO Jeff Immelt was very supportive of global free trade.

Watch Jim Cramer's full NYSE live shows on Youtube!

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