TARGET CORP — Director's Dealing 2008

Dec 1, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2008-11-26

Reporting Person: Risch Troy H (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-11-26	Common Stock	M	1898	$26.3438	Acquired	6801	Direct
2008-11-26	Common Stock	S	1898	$33.5	Disposed	4903	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-11-26	Stock Option	$26.3438	M	1898	Disposed	2009-01-13	Common Stock (1898)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	230.9712	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 September 30, 2008.

F3: Option granted on January 13, 1999. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.