Eddie Howe said at the weekend that Newcastle would continue to discuss the best course of action for Targett up until tonight's deadline.
But the Daily Mail now say Newcastle won't be recalling Targett and will allow the defender to spent the rest of the season with Boro.
It's understood Boro are yet to receive confirmation from Newcastle, but the general feeling at Rockliffe is that if the Magpies were going to recall Targett, they would have done by now. The expectation is he'll stay beyond tonight's deadline.
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Boro had targets lined up if they were forced to replace Targett today but the hope and preference was always to keep the Newcastle loanee.
Staying at Boro would also delight the 30-year-old, who is thoroughly enjoying his season at the Riverside and is a hugely important figure in Kim Hellberg's side.
Targett is also effectively playing for his future. He is set to become a free agent in the summer when his Newcastle contract expires.
It's understood Targett's longer-term future is not something that has been discussed at Boro, where the focus is understandably on this season's promotion race.
Meanwhile, Sverre Nypan's return to Manchester City has been confirmed, with the teenager's Boro loan move terminated early by mutual consent.
Boro were delighted to land Nypan on loan in the summer after Manchester City had splashed out £12m to sign the midfielder from Rosenborg.
Nypan enjoyed a really encouraging start to life at Boro but struggled to build on and has been a bit-part player in recent months. He only made three Championship starts and was an unused substitute in the recent wins over Preston and Norwich.
Nypan has now returned to the Etihad, and City said in a statement: "He will now return to Manchester where his development will be overseen by Pep Guardiola and the City first-team staff."
That suggests Nypan will spend the rest of the season at City rather than go out on another loan in the second half of the season.
Seny Dieng is expected to join Nypan through the exit door today. The goalkeeper is closing in on a move to Feyenoord. If that deal goes through, Boro are expected to sign a goalkeeper ahead of the 7pm deadline.
Micah Hamilton is available to leave if a move for the winger can be found today.
The former Manchester City youngster has been absent from the matchday squad for the last four games. Peterborough were linked over the weekend and a number of other League One clubs have also reportedly shown an interest.