The MNF Group Ltd share price is up 15% in a week

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.

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Motley Fool contributor Tom Richardson owns shares of MNF Group Limited. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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