Shares of Rocket Lab USA, Inc. (RKLB) rocketed 7.33% higher in pre-market trading on Monday, as investors reacted positively to a significant analyst upgrade.

The surge comes after Morgan Stanley dramatically raised its price target for Rocket Lab USA from $20.00 to $68.00, more than tripling its previous valuation. This substantial increase in the target price reflects growing confidence in the company's prospects and potential for future growth.

Rocket Lab USA, a leader in the small satellite launch industry, has been gaining attention for its innovative approach to space technology and consistent launch successes. The upgrade from a major financial institution like Morgan Stanley could signal increased investor interest in the space sector and Rocket Lab's position within it. As the market opens, investors will be watching closely to see if this pre-market momentum continues throughout the trading session.