Google Finance: Target Corporation

"$120 in three years!"

tw <terrylwa...@gmail.com>

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)