For compound, a deer target isnt really needed. A bag target will do just fine. But no broadheads, they'll shred it. Just make sure the field tips you use are the same grain as the broadheads you plan on using.
Targets in general for compound aren't great unless you've got alot of room simply because you're going to be shooting at 30+ yards, and most peoples yards aren't terribly long. I feel, for compound users, going to a range or a moble target is best (so you can take it out to the boonies somewhere and practice).
I'ma traditional bowmen myself, so my backyard is fine for my shooting, since I wont be taking a shot at over 20yards.
Out of curiousity, whats you're poundage?