One man is in hospital in stable condition following what police say is a targeted stabbing in Vancouver's Downtown Eastside neighbourhood.

Police arrived on scene at around 4:00 p.m., PT, Friday afternoon where they found the victim on the ground suffering from a serious stab wound. They are still looking for a suspect.

Police believe the stabbing resulted from a fight between the victim and an unidentified suspect.

An investigation is underway from the Vancouver Police Major Crime Section.