NEW YORK, (Reuters) – Jana Partners, an activist investment firm, said Wednesday that Macy’s share price could more than double if it separated its ecommerce business from customers who buy more online.

Scott Ostfeld from Jana Partners, Jana Partners’ portfolio manager for Active-Passive Investor Summit stated that Macy’s would see a 100% increase in stock prices if they followed the Saks playbook. The firm does not own a stake in it, he said.

Macy’s online venture could potentially be worth $14 billion, he said. Macy’s has an overall market value of $6.9 Billion.

Saks Fifth Avenue has announced that it will split its e-commerce division this year. This will enable Saks.com’s continued strong growth.

Ostfeld suggested that Macy’s might be an online goldmine, and may delight investors, who could now be betting on the possibility of Macy’s falling, and not rising, stock prices by selling it off short.

This stock trades currently at $22.28, and has declined 42% in five years.

He stated that the brick and mortar retail market doesn’t value the digital retailer’s business. A separation would mean a miracle on 34th Street.

Jana’s reputation has been built over two decades of Barry Rosenstein’s founding of the company. She is known for her collaborative work ethic and ability to keep the lights on.