Targeting is a specific type of selection. Entities will target other entities with the intention of performing an action on them. Sometime the action in guaranteed, and will be performed immediately. Other times, the action may miss the intended target.
In Diablo, the player-controlled entity will target an entity to attack it. A percent chance will determine whether the attack actually does any damage to the targeted entity.
In Doom, player-controlled entities target other entities by aiming the crosshairs at them. They shoot in the direction they have selected, which may or may not hit the intended target.
Viewtiful Joe. Only during Slow-mo periods do enemies become targeted (indicated by small crosshairs) and it does not necessarily guide Joe toward the enemy. It serves primarily as a means of identification during the time as to ensure maximum efficiency of the time used during slow-mo.
In Mario 64, the player can move Mario into a coin which if performed correctly will select the coin and increase the players score.