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    #1

    Does "on target" mean "of its goal"?

    Context:
    HSBC says turnaround plan on target, costs cut by $2 billion 1:30pm BST

    HONG KONG - HSBC, Europe's biggest bank, said it cut costs by $2 billion (1 billion pounds) after one year of a 3-year turnaround plan, and is on target to meet its return on equity and other financial targets.

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    #2

    Re: Does "on target" mean "of its goal"?

    Yes, it set goals for "return on equity" and other financial measures and it is saying right now that it will be able to meet those goals.

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