Well, having spent 27 (28 next month, whoo hoo!) years as a black guy, I don't think watching/listening to Lil' Wayne will be necessary, but I plan to do it later so I can come back with more to say. But from what I've learned in my experiences is yes and no, young black people--or black people in general--are targeted.
It really depends on where you're at, what you're doin' at the time, what you're wearin', how you speak and how you earn your income. Y'see the media is a bitch. It's created this trap that a lot of black people fall in to, me being one of them from time to time. Advertising is subliminal and black people have one of the highest consumer rates in the country. So, a lot of the time in media, they'll target blacks for certain things--but that rule can apply to anyone, really.
With the law, it's entirely different. It all depends on the cop, the state you're in and the judge you may--or may not--face in court. BUT, if you're tryin' to fit the stereotype. You're really targeting yourself, nobody's targeting you, unless you're a banger or a dealer; or somethin' like that. I've been targeted by cops before, but that's usually because I was out doin' somethin' I wasn't supposed to be doin'. Thank god I was a minor.
Anyway, it's not really a subject you can really put your foot down and say, "Yes, I think they're being targeted," or "Naw, you're trippin'."