Absurd target limits a boating event (7)
I believe the answer is:
regatta
'boating event' is the definition.
(I've seen this before)
'absurd target limits a' is the wordplay.
'absurd' indicates an anagram.
'limits' means one lot of letters goes inside another (limit can mean to contain or block off).
'target' with letters rearranged gives 'regtta'.
'regtta' enclosing 'a' is 'REGATTA'.
(Other definitions for regatta that I've seen before include "Boat-race meeting" , "Yacht-race event" , "Boating event" , "Sailing races" , "Aquatic activity" .)