Pros
For management/exempt employees, Target is a great company to work for if you are just starting out in your career. You get the opportunity to lead large groups of people right out of college. There are also multiple avenues to give professional development feedback to the individual. For the hourly team members, you have the benefit of working for a stable company, which provides some level of job security.
Cons
Performance reviews and promotional opportunities are very subjective and truly depend on who "likes" you. Leadership at all levels is guilty of this and has kept the right people from the job multiple times. Over the last few years the company has been increasingly relegating the store teams to "execute only" and has been centralizing all creative and progressive developments to "HQ only", which is a shame since it seems like some of the recent developments have been capital intensive but have provided minimal day-to-day improvements in the stores.