Right. That was my mistake. Sorry, I'm at the fourth Gin Tonic now.
Still, I'm quite sure concerning my initial opinion.
When you use Lobo between two or three times, given that you don't target any creature otherwise with a spell/ability
and your opponent doesn't either for the whole game (Very unlikely), this card would be about balanced. 5.5/5.5 (with spelldamage for 2.5 turns) for 5
, albeit starting with weaker stats for 2 turns. And the average usage of creature-targetting spells and abilities, even after turn 3-4, is way higher than that.