Deutsche Bank lifts Sainsbury's target to 390p after Argos exit Proactive uses images sourced from ShutterstockDeutsche Bank has raised its price target on J Sainsbury PLC (LSE:SBRY) by 8% to 390p, arguing that a supermarket without Argos deserves a higher rating than one carrying it. That is a fraction of the £1.4 billion Sainsbury's paid for Argos parent Home Retail Group in 2016, and the deal is expected to trigger a non-cash impairment of roughly £350 million. Argos swung to a £223.2 million pre-tax loss in the 2025 financial year on revenue of £4.1 billion. Sainsbury's will keep commercial ties to Argos after completion, including collection points, the Nectar programme and its Nectar 360 insight and retail media services. Deutsche Bank's new target implies around 10% upside from Friday's close of 359.4p, and it retains a buy rating.