He's probably been the biggest victim of Jack leaving. Where teams would double up, or triple, it would leave space for Targett, both offensively and defensively. He's also got more work to do in Gerrard's system than he did previously.
He was very consistent last year, and did very well. He's not become a bad player overnight. However, like Digne doesn't fit Rafa's system, Targett sadly doesn't seem to fit in our new setup. I'd keep him around as a squad player though.