If you are an investor in Target and have seen the recent drops, a
glimpse of good news:

"In a letter to investors on Dec. 27, Ackman said that the real estate
alone approximates Target's market capitalization, and he believes the
stock will trade at $120 in three years, Faber reported."

Can't find the weblink, but here is the article:

NEW YORK (Dow Jones)--Pershing Square Capital Management Managing
Partner William Ackman's investment in Target Corp. (TGT) has fallen
in value by 42.7%, dropping 35.6% in December, CNBC's David Faber
reported Thursday.

  The investment, made through a special purpose, limited partnership
investment vehicle, now totals 81.6 million shares, mostly in options,
Faber reports.

  In a letter to investors on Dec. 27, Ackman said that the real
estate alone approximates Target's market capitalization, and he
believes the stock will trade at $120 in three years, Faber reported.

  Ackman is an activist investor who previously took stakes in Wendy's
International Inc. (WEN), McDonald's Corp. (MCD) and Ceridian Corp.
(CEN) and pushed management to improve profits by cutting costs or
selling divisions. He announced a big stake in Target in July, leading
to speculation he would push the retailer to sell off its credit-card
operations.

  -By Jerry A. DiColo, Dow Jones Newswires; 201-938-2007;
jerry.dic...@dowjones.com

  (END) Dow Jones Newswires

  January 03, 2008 16:13 ET (21:13 GMT)

  Copyright (c) 2008 Dow Jones & Company, Inc.- - 04 13 PM EST 01-03-08

The 2nd biggest retailer in this country has a $47 Billion REAL ESTATE
portfolio.  This is equal to its current company value.  REITs or any
real estate positions have been suffering and will continue to suffer
in the months and couple years ahead.

The credit card sale is not happening soon because potential buyers
such as big banks are unwilling to make deals due to the ongoing
credit crunch.

Target's share buyback program has halted because of:  weak consumer
spending, weak holiday sales, home furnishing/apparel (Target's main
revenue driver) down and decreasing along, and an earnings revision.

Ackman who sees target going to $120 is desperate because his current
value with his Target investment is decreasing...not to mention he is
a Hedge Fund manager, so he will purposely manipulate a company's
current condition to accommodate his positions, hence his huge bias.
This is a classic attempt to foment Target's stock.

i agree Ackman has nothing to lose and everything to gain buy trying
to boost Target's stock price.

He is a major investor in Target.  STOCK DOWN TO $48.25 right now