diff --git a/src/BuildPrediction/MsBuildHelpers.cs b/src/BuildPrediction/MsBuildHelpers.cs
index f5f9c0a..b8ee2ae 100644
--- a/src/BuildPrediction/MsBuildHelpers.cs
+++ b/src/BuildPrediction/MsBuildHelpers.cs
@@ -235,16 +235,22 @@ public static bool ShouldCopyToOutputDirectory(this ProjectItemInstance item)
         }
 
         /// <summary>
-        /// Determins what the TargetPath metadata would be set to after calling the AssignTargetPath task.
+        /// Determines what the TargetPath metadata would be set to after calling the AssignTargetPath task.
         /// </summary>
         /// <remarks>
         /// See: https://github.com/microsoft/msbuild/blob/master/src/Tasks/AssignTargetPath.cs.
         /// </remarks>
         public static string GetTargetPath(this ProjectItemInstance item)
         {
-            string link = item.GetMetadataValue("Link");
+            // If TargetPath is already set, it takes priority.
+            string targetPath = item.GetMetadataValue("TargetPath");
+            if (!string.IsNullOrEmpty(targetPath))
+            {
+                return targetPath;
+            }
 
             // If file has a link, use that.
+            string link = item.GetMetadataValue("Link");
             if (!string.IsNullOrEmpty(link))
             {
                 return link;
diff --git a/src/BuildPrediction/Predictors/ContentItemsPredictor.cs b/src/BuildPrediction/Predictors/ContentItemsPredictor.cs
index 9198e4c..fe4b610 100644
--- a/src/BuildPrediction/Predictors/ContentItemsPredictor.cs
+++ b/src/BuildPrediction/Predictors/ContentItemsPredictor.cs
@@ -13,6 +13,7 @@ public sealed class ContentItemsPredictor : IProjectPredictor
     {
         internal const string OutDirPropertyName = "OutDir";
         internal const string ContentItemName = "Content";
+        internal const string ContentWithTargetPathItemName = "ContentWithTargetPath";
 
         /// <inheritdoc/>
         public void PredictInputsAndOutputs(
@@ -34,6 +35,21 @@ public void PredictInputsAndOutputs(
                     }
                 }
             }
+
+            foreach (ProjectItemInstance item in projectInstance.GetItems(ContentWithTargetPathItemName))
+            {
+                predictionReporter.ReportInputFile(item.EvaluatedInclude);
+
+                if (!string.IsNullOrEmpty(outDir) && item.ShouldCopyToOutputDirectory())
+                {
+                    // Note: Using TargetPath directly instead of GetTargetPath since ContentWithTargetPath items don't have AssignTargetPath called on them.
+                    string targetPath = item.GetMetadataValue("TargetPath");
+                    if (!string.IsNullOrEmpty(targetPath))
+                    {
+                        predictionReporter.ReportOutputFile(Path.Combine(outDir, targetPath));
+                    }
+                }
+            }
         }
     }
 }
\ No newline at end of file
diff --git a/src/BuildPrediction/Predictors/GetCopyToOutputDirectoryItemsGraphPredictor.cs b/src/BuildPrediction/Predictors/GetCopyToOutputDirectoryItemsGraphPredictor.cs
index e9176f5..a2a7b27 100644
--- a/src/BuildPrediction/Predictors/GetCopyToOutputDirectoryItemsGraphPredictor.cs
+++ b/src/BuildPrediction/Predictors/GetCopyToOutputDirectoryItemsGraphPredictor.cs
@@ -57,6 +57,7 @@ private static void PredictInputsAndOutputs(
 
                     // Process each item type considered in GetCopyToOutputDirectoryItems. Yes, Compile is considered.
                     ReportCopyToOutputDirectoryItemsAsInputs(dependency.ProjectInstance, ContentItemsPredictor.ContentItemName, outDir, predictionReporter);
+                    ReportCopyToOutputDirectoryItemsAsInputs(dependency.ProjectInstance, ContentItemsPredictor.ContentWithTargetPathItemName, outDir, predictionReporter);
                     ReportCopyToOutputDirectoryItemsAsInputs(dependency.ProjectInstance, EmbeddedResourceItemsPredictor.EmbeddedResourceItemName, outDir, predictionReporter);
                     ReportCopyToOutputDirectoryItemsAsInputs(dependency.ProjectInstance, CompileItemsPredictor.CompileItemName, outDir, predictionReporter);
                     ReportCopyToOutputDirectoryItemsAsInputs(dependency.ProjectInstance, NoneItemsPredictor.NoneItemName, outDir, predictionReporter);
diff --git a/src/BuildPrediction/Predictors/GetCopyToPublishDirectoryItemsGraphPredictor.cs b/src/BuildPrediction/Predictors/GetCopyToPublishDirectoryItemsGraphPredictor.cs
index a3b390d..946cdbd 100644
--- a/src/BuildPrediction/Predictors/GetCopyToPublishDirectoryItemsGraphPredictor.cs
+++ b/src/BuildPrediction/Predictors/GetCopyToPublishDirectoryItemsGraphPredictor.cs
@@ -76,6 +76,7 @@ private static void ReportCopyToPublishDirectoryItems(
         {
             // Process each item type considered in GetCopyToPublishDirectoryItems. Yes, Compile is considered.
             ReportCopyToPublishDirectoryItems(projectInstance, ContentItemsPredictor.ContentItemName, publishDir, predictionReporter);
+            ReportCopyToPublishDirectoryItems(projectInstance, ContentItemsPredictor.ContentWithTargetPathItemName, publishDir, predictionReporter);
             ReportCopyToPublishDirectoryItems(projectInstance, EmbeddedResourceItemsPredictor.EmbeddedResourceItemName, publishDir, predictionReporter);
             ReportCopyToPublishDirectoryItems(projectInstance, CompileItemsPredictor.CompileItemName, publishDir, predictionReporter);
             ReportCopyToPublishDirectoryItems(projectInstance, NoneItemsPredictor.NoneItemName, publishDir, predictionReporter);
diff --git a/src/BuildPredictionTests/MsBuildHelpersTests.cs b/src/BuildPredictionTests/MsBuildHelpersTests.cs
index 6967508..9e4d500 100644
--- a/src/BuildPredictionTests/MsBuildHelpersTests.cs
+++ b/src/BuildPredictionTests/MsBuildHelpersTests.cs
@@ -34,21 +34,26 @@ public void ShouldCopyToOutputDirectory(string copyToOutputDirectoryValue, bool
 
         [Theory]
         [InlineData("Foo.xml", null, "Foo.xml")]
-        [InlineData("Foo.xml", @"Bar\Baz.xml", @"Bar\Baz.xml")]
+        [InlineData("Foo.xml", @"Link=Bar\Baz.xml", @"Bar\Baz.xml")]
+        [InlineData("Foo.xml", @"TargetPath=Bar\Baz.xml;Link=ShouldNotBeUsed.xml", @"Bar\Baz.xml")]
         [InlineData(@".\.\.\X\.\.\.\.\Foo.xml", null, @"X\Foo.xml")]
         [InlineData(@"{ProjectDir}\X\Foo.xml", null, @"X\Foo.xml")]
         [InlineData(@"{ProjectDir}\.\.\.\.\X\.\.\.\Foo.xml", null, @"X\Foo.xml")]
         [InlineData(@"{ProjectDir}\..\..\..\X\Y\Z\Foo.xml", null, @"Foo.xml")]
-        public void GetTargetPath(string itemIdentity, string linkValue, string expectedResult)
+        public void GetTargetPath(string itemIdentity, string properties, string expectedResult)
         {
             ProjectRootElement projectRootElement = ProjectRootElement.Create();
 
             itemIdentity = itemIdentity.Replace("{ProjectDir}", projectRootElement.DirectoryPath, StringComparison.Ordinal);
             ProjectItemElement item = projectRootElement.AddItem("Foo", itemIdentity);
 
-            if (!string.IsNullOrEmpty(linkValue))
+            if (properties is not null)
             {
-                item.AddMetadata("Link", linkValue);
+                foreach (string property in properties.Split(';'))
+                {
+                    string[] propertyParts = property.Split(['='], 2);
+                    item.AddMetadata(propertyParts[0], propertyParts[1]);
+                }
             }
 
             ProjectInstance projectInstance = TestHelpers.CreateProjectInstanceFromRootElement(projectRootElement);
diff --git a/src/BuildPredictionTests/Predictors/ContentItemsPredictorTests.cs b/src/BuildPredictionTests/Predictors/ContentItemsPredictorTests.cs
index 77cc1cd..3c367b8 100644
--- a/src/BuildPredictionTests/Predictors/ContentItemsPredictorTests.cs
+++ b/src/BuildPredictionTests/Predictors/ContentItemsPredictorTests.cs
@@ -15,15 +15,25 @@ public void NoCopy()
         {
             ProjectRootElement projectRootElement = ProjectRootElement.Create();
             projectRootElement.AddProperty(ContentItemsPredictor.OutDirPropertyName, @"bin\");
-            projectRootElement.AddItem(ContentItemsPredictor.ContentItemName, "Foo.xml");
+
+            ProjectItemElement item1 = projectRootElement.AddItem(ContentItemsPredictor.ContentItemName, "Foo.xml");
+
+            ProjectItemElement item2 = projectRootElement.AddItem(ContentItemsPredictor.ContentWithTargetPathItemName, "Bar.xml");
+            item2.AddMetadata("TargetPath", @"bin\Bar.xml");
 
             ProjectInstance projectInstance = TestHelpers.CreateProjectInstanceFromRootElement(projectRootElement);
 
+            PredictedItem[] expectedInputFiles =
+            [
+                new PredictedItem("Foo.xml", nameof(ContentItemsPredictor)),
+                new PredictedItem("Bar.xml", nameof(ContentItemsPredictor)),
+            ];
+
             new ContentItemsPredictor()
                 .GetProjectPredictions(projectInstance)
                 .AssertPredictions(
                     projectInstance,
-                    new[] { new PredictedItem("Foo.xml", nameof(ContentItemsPredictor)) },
+                    expectedInputFiles,
                     null,
                     null,
                     null);
@@ -35,18 +45,34 @@ public void WithCopy()
             ProjectRootElement projectRootElement = ProjectRootElement.Create();
             projectRootElement.AddProperty(ContentItemsPredictor.OutDirPropertyName, @"bin\");
 
-            ProjectItemElement item = projectRootElement.AddItem(ContentItemsPredictor.ContentItemName, "Foo.xml");
-            item.AddMetadata("CopyToOutputDirectory", "PreserveNewest");
+            ProjectItemElement item1 = projectRootElement.AddItem(ContentItemsPredictor.ContentItemName, "Foo.xml");
+            item1.AddMetadata("CopyToOutputDirectory", "PreserveNewest");
+
+            ProjectItemElement item2 = projectRootElement.AddItem(ContentItemsPredictor.ContentWithTargetPathItemName, "Bar.xml");
+            item2.AddMetadata("CopyToOutputDirectory", "PreserveNewest");
+            item2.AddMetadata("TargetPath", @"Bar\Bar.xml");
 
             ProjectInstance projectInstance = TestHelpers.CreateProjectInstanceFromRootElement(projectRootElement);
 
+            PredictedItem[] expectedInputFiles =
+            [
+                new PredictedItem("Foo.xml", nameof(ContentItemsPredictor)),
+                new PredictedItem("Bar.xml", nameof(ContentItemsPredictor)),
+            ];
+
+            PredictedItem[] expectedOutputFiles =
+            [
+                new PredictedItem(@"bin\Foo.xml", nameof(ContentItemsPredictor)),
+                new PredictedItem(@"bin\Bar\Bar.xml", nameof(ContentItemsPredictor)),
+            ];
+
             new ContentItemsPredictor()
                 .GetProjectPredictions(projectInstance)
                 .AssertPredictions(
                     projectInstance,
-                    new[] { new PredictedItem("Foo.xml", nameof(ContentItemsPredictor)) },
+                    expectedInputFiles,
                     null,
-                    new[] { new PredictedItem(@"bin\Foo.xml", nameof(ContentItemsPredictor)) },
+                    expectedOutputFiles,
                     null);
         }
     }