bosh target 192.168.50.4 lite Usage: target [] [] [--ca-cert FILE]
$ bosh status Config /Users/laled/.bosh_config
Director not set
Deployment not set
bosh target 192.168.50.4 lite Usage: target [] [] [--ca-cert FILE]
$ bosh status Config /Users/laled/.bosh_config
Director not set
Deployment not set
Strange, the command you entered should work.
bosh target IP <alias>
Perhaps update to latest BOSH CLI version and try again.