“The consumers are still spending, and our business clients are profitable and increasingly optimistic,” Bank of America CFO Alastair Borthwick said during a media call on Thursday preceding the Q4 earnings call. “Coupled with our fourth quarter return to operating leverage, we're entering 2025 with good momentum.”

Bank of America (BofA) analysts upgraded Toronto-Dominion Bank (TD.TO)(TD) to a “Buy” rating on Friday, citing “increased confidence” in the bank’s leadership. BofA Securities joins several other institutions that have identified upside in TD’s stock after a year of turmoil in 2024 defined largely by anti-money-laundering issues in the U.