At least 20 shots were fired from an automatic weapon through the living room window of a house in Carrigart Crescent at about 01:45 GMT on Monday.
There was no-one else in the house at the time.
Police are investigating a possible link to a silver Skoda car which was seen in the Carrigart area before the shooting.
It was stolen from Dublin in December and had fake number plates.
The vehicle was found burnt out in the New Line area a short time after the shooting.
Ch Insp Jon Burrows has appealed for the public to come forward with information.
"Someone must know what the background to this was," he said.
"Why was this person targeted? It was a very orchestrated, carefully planned attack.
"Is there anything happening in that area? Do you know anything about that individual who was targeted?
"We need your help in solving this crime."
A 31-year-old man is in a critical condition in hospital after he was shot in the head in Lurgan in County Armagh.