Meadow Heights stabbing may be mistaken identity

The stabbing of a woman during a Melbourne home invasion may have been a case of mistaken identity, police say.

The man broke into Jane Wallace's Meadow Heights home at about 2am (AEDT) on Monday and stabbed the 40-year-old during an altercation.

The victim suffered serious stab wounds to her upper body, including a punctured lung and a fractured rib.

She was taken to The Royal Melbourne Hospital in a stable condition.

The victim's 21-year-old daughter, Jazmine Ali, and her boyfriend were in the next room and heard screaming.

"All I heard was screaming, and I opened the door to find my mother covered in blood," she told reporters on Monday.

Jazmine said she has no idea who would want to hurt her mother.

The pair had recently moved to the area, and the attack had left her terrified.

Police are describing it as an aggravated burglary and say the offender remains on the run.

Police say it was either a random attack or a case of mistaken identity.

The offender is described as being a young man with short, fair hair, who was wearing blue jeans and a black t-shirt.

An information caravan will be set up near the home at 11.30am on Wednesday.

Anyone with information is asked to call Crime Stoppers on 1800 333 000.