TARGET CORP — Director's Dealing 2007

Jan 13, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2007-01-10

Reporting Person: ULRICH ROBERT J (Director, Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-01-10	Stock Option	$58.1300	A	423190	Acquired	2017-01-10	Common Stock (423190.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.0833 per share	63299.0000	Direct
Common Stock, $.0833 per share	10885.2223	Indirect
Common Stock, $.0833 per share	709103.0000	Indirect

Footnotes

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

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

F3: Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.