The Financial Post reports in its Saturday, Dec. 14, edition that the path ahead for TD Bank is rocky, but Jefferies Financial Group is predicting a recovery in the stock, naming it a top pick for 2025. A Bloomberg dispatch to the Post says that analysts led by John Aiken upgraded Canada's second-largest bank ($75.87) to buy from hold and raised their price target to $90. While Mr. Aiken does not see a rebound happening in the near term, he expects it to improve as 2025 progresses. "The challenges are not insurmountable, and we anticipate that several questions will be answered over the next year and believe that TD's multiple will recover some lost ground," Mr. Aiken wrote. "We are already seeing TD's valuation rebound." U.S. criminal money-laundering investigations were resolved in October, with TD pleading guilty to failing to prevent money laundering by drug cartels and other criminals. It also agreed to pay almost $3.1-billion (U.S.), and faces a cap on its American assets. The lender last week suspended medium-term financial targets amid a review of strategy as incoming chief executive officer Raymond Chun seeks to move past the settlement. Mr. Aiken sees Mr. Chun taking the helm as a "clean slate."