I am in this time, it is so helpful to do this. My current goal is 135 pounds so let's make that my goal for this time. If I can just break (and stay under) that 143 barrier that I've been on for the last month!
However during that time I was working a LOT, now back to usual insane schedule and am planning on riding 3-4 days a week on top of my two spinning classes and 2 personal training appointments. If all of this doesn't get my weight down, then it certainly should be tightening what is there and adding/strengthening muscle and lose body fat at the same time.
I haven't been 135 in more years than I would care to admit - once there will need to consider what is best at that point