Take cover! William Ackman's next target

The drum roll please. And the next target of William Ackman's hedge fund is...Target, the retailer. The New York Post reports that Ackman's Pershing Square Capital Management will disclose in an SEC filing that it has a position well over 5 percent. Pershing Square raised a $2 billion "single-purpose" fund last month that will invest in just one stock. Ackman has had success with his targeted approach. He has generated average returns of more than 40 percent over the past two years, and his fee structure is said to be investor-friendly. Recall his success with McDonalds. He has lots of praise for Target, noting its strong management team. Speculation holds that he may be interested in unlocking some value from its creditcard or real estate operations.

For more:
- here's the article from The New York Post