Investing.com - Tesla (NASDAQ:TSLA) finally met its weekly production target for the new Model 3 sedan, but that didn't stop several Wall Street firms from issuing skeptical notes.
CFRA Research changed its rating on Tesla from hold to sell, while maintaining its 12-month, stock price target of $300.
(graphic: CFRA Research: "We don't see this production rate as operationally or financially feasible."
In a note to clients, the firm said it does not think the 5,000 vehicle production rate is "operationally or financially sustainable."
Citi Research maintained its rating and price target, but echoed concerns about a sustainable production rate.
Goldman Sachs (NYSE:GS) reiterated its sell rating and six-month price forecast of $195, saying Model 3 deliveries missed the firm's "bearish estimates."
And JP Morgan re-issued its underweight rating and $180 price target, citing a "softer overall trend to deliveries."
Concerns about Model 3 production and the company's finances have dogged the electric automaker for months.
Tesla shares recovered from a sharp selloff in March, and are basically unchanged for the year.