The MNF Group Ltd (ASX: MNF) share price has climbed 15% over the past week after investment bank Morgan Stanley published a bullish research report on the voice over internet and software technology specialist.
Last week MNF shares were changing hands for $4.20, but today are selling for $4.85 after the research analysts at Morgan Stanley slapped a $6.15 share price target on MNF Group according to Dow Jones news wire reports.
According to Financial Times data there are three other professional analysts who have a median MNF share price target of $5.56, with a high estimate of $6.35 and a low estimate of $5.25.
The MNF Group provides online telecommunication services such as number porting, conference call hosting and virtual numbers to business customers across Australia and is targeting the Asia Pacific as a further growth market.
It is forecasting pro forma earnings per share above 17 cents in FY 2017 when including the impacts of a recent conference call business acquisition and analysts expect some strong earnings per share growth over the years ahead.
