Makefile Target Cannot Find the File Specified

I'm having some trouble when editing an automatically generated makefile. I'll note that I am new to the world of makefiles. Here is an excerpt:

# All Target
all: makefile_project_test1.out
	@echo ''
	@echo '============================'
	@echo 'APPLICATION BUILD SUCCESSFUL'
	@echo '============================'
	@echo ''
	@myfaketarget


# Other Targets
.PHONY: myfaketarget
myfaketarget:
	echo "TEST MY FAKE TARGET"

But for a reason that I can't seem to figure out, I'm getting the error:

process_begin: CreateProcess(NULL, myfaketarget, ...) failed.
make (e=2): The system cannot find the file specified.

gmake: *** [all] Error 2

Can anyone shed some light onto why that might be happening?