No need for ugly sed error-prone trickery.
Use on the Makefile:
MAKE_TARGET := /some/path
And invoke $ make MAKE_TARGET=/other/pathUse on the Makefile:
MAKE_TARGET := /some/path
And invoke $ make MAKE_TARGET=/other/pathAlso you probably meant ?= instead of := as the command you gave would still use /some/path instead of /other/path if you use :=.