Ally Financial Inc. (NYSE: ALLY)  had two things working it for shares to rally on Tuesday. The first was that not all of the underwriting group was bullish as Ally’s quiet period was in force. The second was that the broad market was in the tank, as Fed presidents were talking up the time that rate hikes could take place.

So, the question is whether the analysts were too cautious or whether the bullish analysts were too bullish.

24/7 Wall St. compiled the analyst calls that it seen, listed by the formal rating, but which firm, and what the price target is on each.

The following ratings initiations were seen on Tuesday for Ally Financial:

• Buy at Citigroup – $29 price target
• Outperform at Keefe Bruyette & Woods – $30 price target
• Overweight at Barclays – $28 price target
• Overweight at J.P. Morgan – $30 price target
• Overweight at Morgan Stanley – $30 price target
• Hold at Deutsche Bank – $26 price target
• Equal Weight at Evercore Partners – $26 price target
• Neutral at BofA Merrill Lynch – $26 price target
• Neutral at Credit Suisse – $27 price target
• Neutral at Goldman Sachs – $26 price target

In late afternoon trading, Ally was down by 0.8% at $24.25 against a post-IPO range of $23.76 to $27.90. As a reminder, Ally shares closed down at $23.98 on its first day of trading, and that was after the 95 million share IPO priced at the low end of the $25 to $28 price range at $25 per share.

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As a reminder, Ally’s management said that the Treasury will likely be out of its  ownership in Ally by the end of this year. The $2.4 billion IPO also reduced the treasury’s ownership down to 17% from 37%.

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