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Two major market events signal strategic consolidation and sector-specific investor optimism. Mars has finalized its $36 billion acquisition of Kellanova, creating a dominant force in the global snacking industry. Concurrently, Goldman Sachs upgraded key hospitality stocks, reflecting confidence in high-end consumer and travel markets.
Las Vegas Sands shares gained following a Goldman Sachs upgrade to 'buy' from 'neutral'. The bank cited a sustainable revenue acceleration in Macao and robust growth in Singapore, forecasting continued outperformance and a 23% potential upside.
The Federal Reserve's third interest rate cut of the year has spurred a rally in consumer discretionary stocks. Analysts are upgrading key players like Las Vegas Sands, citing strong performance metrics and a favorable economic outlook fueled by expectations of increased consumer spending.