After Amazon.com Inc.’s (AMZN) blowout “Turkey 5” shopping period—from Thanksgiving Day to Cyber Monday—one team of analysts on the Street expects the e-commerce and cloud computing giant to continue taking market share and adding partnerships in the apparel segment. (See also: Amazon—Not Apple—Will Be First $1T Co.: NYU Prof.)

Geared with hundreds of new brick-and-mortar locations following its $13.7 billion acquisition of natural food grocer Whole Foods Market, analysts see Amazon as better positioned to expand into markets such as apparel and pharmacy. Over the holiday, Amazon noted strong sales of its branded hardware at Whole Foods locations. In this way, consumers could start to see an apparel section, a pharmacy, and other non-food products being sold at the organic food retailer.

Largest Ever Total Available Market 

Instinet’s Simeon Siegel and team, noting that Amazon may already be the biggest apparel retailer, expect sales to boom between $45 billion and $85 billion by fiscal 2020. The analysts estimate that overall apparel and accessories sales on the platform exceed $1 trillion, with “above average” online penetration and “leading gross margins” compared with other categories.

“We believe Amazon has the largest [total available market] TAM (ever), doesn’t carry socio-economic retailing stigmas, can stock a limitless number of goods on its virtual shelf and knows customers better than they do,” wrote Siegel. “Amazon’s path to book dominance provides a potential road map for apparel success, with its fiscal 2007 media progress sharing similarities to its fiscal 2017 apparel achievements.”

Instinet also sees upside in Amazon’s growing importance among brands such as the world’s largest sportswear company Nike Inc. (NKE), with whom Amazon just inked a deal. Siegel, who rates AMZN at buy, has a price target of $1,360 on the stock, reflecting an 18% upside from Wednesday close. (See also: Amazon Pushes Into New Territory—Australia.)

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