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Trump is a subject of the investigation and Dowd resigned for a reason.
Also, I'm sure that if I had the notion to, I could find a link that states that Mueller can legally mislead Trump on his intentions to officially turn him from "subject" to "target".
Cops routinely and legally lie to people all the time.
Remember, Mueller is trying to turn down the heat on his office, and he is trying to get Trump to agree to an interview.
My take away from today's news is that Trump is under investigation.
Today's news is that Trump was not a target last month. But he was and remains a subject. Says nothing about Mueller's intentions to turn him into a target.