TARGET CORP — Director's Dealing 2007

Dec 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2007-11-30

Reporting Person: FRANCIS MICHAEL (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-30	Common Stock	M	75182	$30.26	Acquired	95954	Direct
2007-11-30	Common Stock	S	75182	$60.19	Disposed	20772	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-30	Stock Option	$30.26	M	75182	Disposed	2013-01-08	Common Stock (75182)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5237.399	Indirect

Footnotes

F1: Includes dividend equivalents paid on restricted stock units since the date of the reporting person's last filing that have been reinvested in additional restricted stock units.

F2: Price is the weighted average selling price of all sales by the reporting person on the transaction date. The range of selling prices was $60 to $60.43 per share.

F3: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of September 30, 2007.

F4: Option granted on January 8, 2003. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.