where h is a complex number represented for the channel between the target and radar,
I'm going to stop you there: if you model the channel like that, it can't be used as radar channel model. The whole point of Radar is that the signal experiences a delay between target and receiver, so the minimum sensible channel model would be
$$y(t) = h_0\cdot \delta(t-\tau_0) \,* \, x(t) + n(t),$$
where $h_0$ contains the attenuation through free space loss of the signal propagating the distance two-way and the limited cross-section of the target, as well as the phase, $\tau_0$ is the delay due to the time that radio waves take to travel (at speed of light $c_0$) from transmitter to target to receiver (so, in a monostatic radar with a target at range $d$, $\tau = 2d/c_0$).
$\delta$ is the Dirac delta functional, $*$ is convolution, not just multiplication.
Can we estimate the target information such as range and velocity based on the estimated value of $h$?
If your signal model is really just "received signal is transmitted signal times a scalar plus noise", then that would mean your target sits exactly at the radar, nothing to estimate there. There's no delay between transmission and reception, so the range must be 0.