** Shares of Australia's Tuas TUA.AX rise as much as 3.8% to A$7.30, their highest level since November 4

** Stock marks its biggest intraday pct gain since December 1

** Morgan Stanley raises PT for the telecom firm to A$10 from A$9.5 and reiterates "overweight" rating

** After completing the M1 acquisition, brokerage sees scope for Tuas to generate 23.5 Australian cents per share EPS and 33.3 Australian cps free cash flow $(FCF)$, implying 4.7% FCF yield

** M1 deal completion could be a material catalyst in terms of uncertainty removal, consensus reset and outlook comments, potentially incorporating M1 - Morgan Stanley

** Stock among top performers on the ASX 200 benchmark

** Stock up more than 13%, YTD

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))