Upgrading for new iMac

I currently use an iMac OS X Yosemite 10.10.5 I have purchased a new iMac recently. Based on what I've read I need to upgrade to Catalina but my computer is too old. Again from what I've gleaned reading, I can upgrade to High Sierra. Is that correct? If so, will I still need to upgrade to Catalina to migrate info to my new computer which I have not set up yet. Any help appreciated.