Islamophobia can target either the religion itself or the people perceived to follow it

Evidence

Finally, directed at Islam or Muslims suggests that the target may be the religious doctrine or the people who follow it (or whose ancestors have followed it, or who are believed to follow it). This recognizes the multidimensional nature of Islamophobia, and the fact that Islam and Muslims are often inextricably intertwined in individual and public perceptions. — Erik Bleich, Defining and Researching Islamophobia, 36

Categorization

• DEFINE: Clarifies that the object of the attitude splits between doctrine and persons — a distinction most casual usage blurs.