An LTC "target only" would imply you are not allowed to use it for self defense in your own home.
I believe this statement is quite wrong as a matter of law. The regulatory offense is "carrying" without a license outside of one's home, and the "target shooting" "restriction" constrains only the reasons why one can carry outside the home. Nothing in an LTC purports to license or restrict the reasons why you might shoot.
(I could also argue that an armed home intruder qualifies as a "target," but that is wordsmithing.)