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  "authorName": "William Ackman",
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      "text": "We have updated our model to reflect Q3 2008 results as well as revised guidance provided by Target management on its earnings call on Monday, November 17, 2008",
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      "text": "Reduced Q4 '08E same-store-sales expectations to negative 5%\nLowered capital expenditures in 2009 by approximately $1bn\nSlowed square footage growth in 2010E\nHalted share buybacks in Q4 2008 and for the full year 2009\nUsed a 20-day average stock price of $37 per share for Target",
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