Target OKs $5 billion share repurchase authorization

MINNEAPOLIS — Target's board of directors has approved a new $5 billion share repurchase program, which will be implemented upon the completion of the company's current $10 billion program. Target said while it expects to complete its current program early this year, it expects to complete the new $5 billion authorization in the next two to three years, saying the program "represents an opportunity to apply excess cash flow to what [the company believes] will be an attractive long-term investment." “Our plans envision continued generation of much more cash than we believe is appropriate to invest in our core