Often I need to output data either to file or, if file is not specified, to stdout. I use the following snippet:
if target:
    with open(target, 'w') as h:
        h.write(content)
else:
    sys.stdout.write(content)
I would like to rewrite it and handle both targets uniformly.
In ideal case it would be:
with open(target, 'w') as h:
    h.write(content)
but this will not work well because sys.stdout is be closed when leaving with block and I don't want that. I neither want to
stdout = open(target, 'w')
...
because I would need to remember to restore original stdout.
Related:
Edit
I know that I can wrap target, define separate function or use context manager. I look for a simple, elegant, idiomatic solution fitting that wouldn't require more than 5 lines
Just thinking outside of the box here, how about a custom open() method?
import sys
import contextlib
@contextlib.contextmanager
def smart_open(filename=None):
    if filename and filename != '-':
        fh = open(filename, 'w')
    else:
        fh = sys.stdout
    try:
        yield fh
    finally:
        if fh is not sys.stdout:
            fh.close()
Use it like this:
# For Python 2 you need this line
from __future__ import print_function
# writes to some_file
with smart_open('some_file') as fh:
    print('some output', file=fh)
# writes to stdout
with smart_open() as fh:
    print('some output', file=fh)
# writes to stdout
with smart_open('-') as fh:
    print('some output', file=fh)
                        Stick with your current code. It's simple and you can tell exactly what it's doing just by glancing at it.
Another way would be with an inline if:
handle = open(target, 'w') if target else sys.stdout
handle.write(content)
if handle is not sys.stdout:
    handle.close()
But that isn't much shorter than what you have and it looks arguably worse.
You could also make sys.stdout unclosable, but that doesn't seem too Pythonic:
sys.stdout.close = lambda: None
with (open(target, 'w') if target else sys.stdout) as handle:
    handle.write(content)
                        An improvement of Wolph's answer
import sys
import contextlib
@contextlib.contextmanager
def smart_open(filename: str, mode: str = 'r', *args, **kwargs):
    '''Open files and i/o streams transparently.'''
    if filename == '-':
        if 'r' in mode:
            stream = sys.stdin
        else:
            stream = sys.stdout
        if 'b' in mode:
            fh = stream.buffer  # type: IO
        else:
            fh = stream
        close = False
    else:
        fh = open(filename, mode, *args, **kwargs)
        close = True
    try:
        yield fh
    finally:
        if close:
            try:
                fh.close()
            except AttributeError:
                pass
This allows binary IO and pass eventual extraneous arguments to open if filename is indeed a file name.
Why LBYL when you can EAFP?
try:
    with open(target, 'w') as h:
        h.write(content)
except TypeError:
    sys.stdout.write(content)
Why rewrite it to use the with/as block uniformly when you have to make it work in a convoluted way? You'll add more lines and reduce performance.
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