Mutually exclusive!!
Blitzo--you said
I am interested in a bolt action rifle for deer hunting and mostly target shooting.
You want 2 rifles. A decent target rifle will be too heavy and unwieldy to lug around in the woods. A rifle light and short enough to be handy in the woods will never get you much of anywhere in competition.
Also, the sights, whether optical or iron, for best performance, will be much different for target as opposed to hunting use. A target 'scope will have much higher magnification, and be longer and heavier, than a hunting 'scope. Target iron sights will be highly adjustable peep sights, with apertures too small for effective use in the woods. You could switch out the sights, whether iron or optical, for the 2 usages, but then we're back to the fact that the optimum rifles for the 2 usages will be different.
Now, if by "target" you meant informal range shooting, and plinking, then by all means get a hunting rifle, a good one, and it will also be good enough for these uses on the range. In that case I'd shop around, and get the best deal for the rifle that fits you best, that you like the looks of, and is relatively light and handy. Whether it is a .308 or a .30-'06 will not make a great deal of difference in this case, especially if you will be reloading for it.