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  "documentTitle": "Target Corporation (TGT)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "presentationDate": "2008-11-19 00:00:00",
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  "notes": "Uses a waterfall-bridge structure to illustrate value creation from corporate restructuring.",
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      "text": "Waterfall chart showing Target Standalone ($37) vs TIP REIT IPO ($65) vs 12-Month Future Price ($79)",
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      "text": "Note: Target valuation assumes sale of remaining 53% interest on credit card receivables for $4.4bn... (1) Based on 20-day trading average... (2) Based on mid-point of valuation analysis (3) Based on Adjusted Equity Value...",
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