I suggest anyone interested in using Raise to buy gift cards head over to the main thread about the discounts.If you just buy Disney Gift cards on Raise will that work as well?
http://www.disboards.com/threads/12-off-disney-gift-cards-target.3364853/page-36
To answer your question - yes but with some warnings..
1. If you buy Disney cards from Raise (or another discounter), you have to make sure they aren't Disney Store cards. See my post here.
2. You will miss out on the 5% discount from Target from using a REDCard. That said, you might find a deal that makes up the difference.