TARGET CORP — Director's Dealing 2007

Jun 21, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2007-06-19

Reporting Person: STEINHAFEL GREGG W (Director, Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-19	Common Stock	M	121000	$33.8512	Acquired	331747	Direct
2007-06-19	Common Stock	S	121000	$63.6079	Disposed	210747	Direct
2007-06-20	Common Stock	M	85788	$33.8512	Acquired	296535	Direct
2007-06-20	Common Stock	S	85788	$63.6239	Disposed	210747	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-19	Stock Option	$33.8512	M	121000	Disposed	2010-01-12	Common Stock (121000)	Direct
2007-06-20	Stock Option	$33.8512	M	85788	Disposed	2010-01-12	Common Stock (85788)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3744.997	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 $63.50 to $63.95 per share.

F3: Price is the weighted average selling price of all sales by the reporting person on the transaction date. The range of selling prices was $63.54 to $63.69 per share.

F4: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of March 31, 2007.

F5: Option granted under the Target Corporation Long-Term Incentive Plan in a transaction exempt under Rule 16b-3.

F6: Option granted on January 12, 2000. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.