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Discover Ludwig"formal target" is correct and usable in written English.
You can use it when referring to a goal or objective established through a formal process or document. For example, "The mayor set a formal target to reduce the city's greenhouse gas emissions by 10% by the end of the year."
Exact(21)
The Fed has no formal target, but in practice it has a "comfort zone" for inflation.
Clegg's pre-election ambition to reach 100 MPs within two parliaments remains "do-able" but is not a formal target.
The Fed, of course, doesn't have a formal target but is believed to want a core inflation rate of 2%.
Until he leaned on Comey and then fired him, he was facing a counter-espionage investigation in which he himself wasn't a formal target.
By the time the reactor is turned on the formal target date for its first experiment is 2020 the site will be home to a small city.
Although this estimate is likely to be revised down, there should be enough leeway in the original forecast for the chancellor to set a formal target.
Similar(39)
Heads refusing to go on "gardening leave" will enter a process of formal target-setting for their school.
There were no formal targets.
Defra has a policy of encouraging more incineration, but no formal targets, said a spokesman.
No formal targets have been identified, but those speculated appear likely given circumstances and size.
A growing number of central banks have adopted formal targets for inflation.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com