Morgan Stanley raises Rocket Lab's PT; shares jump

** Shares of space company Rocklet Lab RKLB jump nearly 7% to about $68.8 in premarket trading

** Morgan Stanley raises co's PT to $68 from $20, a 5.8% upside on stock's last close

** "RKLB today is the market's clear small-launch leader with a new medium-class launcher nearing entry into service at a time when supply of launch capacity is constrained," Morgan Stanley says

** Says the market is now taking valuation cues for RKLB from SpaceX’s implied valuation

** 10 of 15 brokerages rate the stock "buy" or higher and five "hold"; their median PT is $50.5 - data compiled by LSEG

** As of last close, shares up about 152.3% YTD