TARGET CORP — Director's Dealing 2006

Jan 13, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2006-01-11

Reporting Person: BLACKWELL TODD (Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-01-11	Stock Option	$53.9800	A	88922	Acquired	2016-01-11	Common Stock (88922.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.0833 per share	156.1379	Indirect

Footnotes

F1: Shares held in the Target Corporation 401(k) Plan (the "401(k) Plan") based on the plan statement as of December 31, 2005.

F2: Option granted under the Target Corporation Long-Term Incentive Plan in a transaction exempt under Rule 16b-3.

F3: Option granted on January 11, 2006. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.