TARGET CORP — Director's Dealing 2006

Nov 15, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2006-11-15

Reporting Person: SCOVANNER DOUGLAS A (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-15	Common Stock	M	45656	$26.3438	Acquired	121780.0000	Direct
2006-11-15	Common Stock	S	45656	$59.2500	Disposed	76124.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-15	Stock Option	$26.3438	M	45656	Disposed	2009-01-13	Common Stock (45656.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.0833 per share	7345.8847	Indirect
Common Stock, $.0833 per share	3000.0000	Indirect

Footnotes

F1: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of September 29, 2006.

F2: Shares held in a trust of which Mr. Scovanner is a trustee.

F3: Option granted under the Target Corporation Long-Term Incentive Plan in a transaction exempt under Rule 16b-3.

F4: Option granted on January 13, 1999. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.