TARGET CORP — Director's Dealing 2008

Sep 3, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2008-09-02

Reporting Person: JOHNSON JAMES A /DC/ (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-02	Common Stock	M	5694	$26.3438	Acquired	21332	Direct
2008-09-02	Common Stock	S	5694	$55.081	Disposed	15638	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-09-02	Stock Option	$26.3438	M	5694	Disposed	2009-01-13	Common Stock (5694)	Direct

Footnotes

F1: Price is the volume weighted average selling price of all sales by the reporting person on the transaction date. Actual prices ranged from $55.08 to $55.0809. The reporting person hereby undertakes to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F2: Option granted under the Director Stock Option Plan of 1995 in a transaction exempt under Rule 16b-3.