Australia's Catapult Sports climbs; Morgan Stanley raises PT on IMPECT acquisition

Shares of Australia's Catapult Sports CAT.AX rise as much as 6.4% to A$7.70, their highest level since October 7

Analysts at Morgan Stanley raise price target for CAT to A$7.90 from A$6, keeps "overweight" rating

Morgan Stanley says Catapult Sports' acquisition of German soccer analytics firm IMPECT to provide strong strategic alignment and solid growth momentum

Sports technology firm to buy IMPECT for up to $91 million, with $46 million upfront

MS adds sustainted annual contract value acceleration and free cash flow generation under CAT's ownership are crucial

Acquisition to be funded through A$130 million ($84.66 million) placement at A$6.68 per share, a 7.7% discount to CAT's last close

CAT stock up 99.7%, YTD

($1 = 1.5356 Australian dollars)