What does the cryptic crossword clue "Absurd target limits a boating event (7)" mean?

The definition is "boating event". The wordplay uses an anagram. anagram of TARGET + A = REGATTA; definition: "boating event" The answer is REGATTA.

Absurd target limits a boating event (7)

Daily Mail Cryptic #16595 | 13 Across | 2021-06-10 flower