TARGET CORP — Director's Dealing 2007

Mar 16, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2007-03-14

Reporting Person: SCOVANNER DOUGLAS A (Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-14	Deferred Compensation Units	$	A	34700	Acquired		Common Stock (34700.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	139898.0000	Direct
Common Stock, $.0833 per share	7473.9102	Indirect
Common Stock, $.0833 per share	3000.0000	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: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of March 14, 2007.

F3: Shares held in a trust of which Mr. Scovanner is a trustee.

F4: Deferred compensation units are held under the Target Corporation Executive Compensation Plan (the ''Plan''). Under the terms of the Plan, participants' deferred compensation balances are indexed to various crediting rate alternatives, as chosen by them. The units reported relate to the Target common stock crediting rate alternative, and each unit is the economic equivalent of one share of Target common stock. The value of such units increases or decreases daily in accordance with an equivalent investment in the Target Stock Fund in the corporation's 401(k) plan. Participants are generally free to transfer plan balances into other crediting rate alternatives at any time. The Plan balances represent unsecured general obligations of Target Corporation, and are payable solely in cash.

F5: Acquired pursuant to the settlement of a performance share award granted under Target's Long-Term Incentive Plan in a transaction exempt under Rule 16b-3.