A "Target" school is a school that has a reasonable probability to admit you if you were to apply. Not too easy (those are "Safety" schools), but not too hard either.
A "Reach" school is a school that would be really hard for you to get into. These are usually your Ivy Leagues, but could also be other less competitive schools depending on your academic strength, extracurriculars, and other prerequisites.
Generally CollegeVine recommends that you have about 2 safety schools, 4 target, and 2 reach schools on your list. This gives you a decent chance of getting into a good school, while minimizing your effort and risk.