Analyst: Tesla Inc (TSLA) Model 3 Production Is On Schedule

If you haven’t heard by now, the fate of Tesla Inc (NASDAQ:TSLA) rests on its ability to produce its electric cars at a much higher scale.

The automaker has fallen under fire for constantly missing self-imposed production deadlines, but there appears to be a light at the end of the tunnel. As CNBC notes, one analyst recently toured Tesla’s factory, and came away with a bullish conclusion:

“Tesla seems well on the way to achieving a steady weekly production rate of 5,000 to 6,000 units per week,” Evercore ISI analyst George Galliers said in a note following an inside tour of the company’s facilities.

“We are incrementally positive on Tesla following our visit. We have confidence in their production. We did not see anything to suggest that Model 3 cannot reach 6,000 units per week, and 7,000 to 8,000 with very little incremental capital expenditure.”

Despite the upbeat note, Tesla shares took a heavy dive late last week following a blockbuster New York Times interview with CEO Elon Musk. The executive admitted that the last year has been the most stressful of his life, and even raised concerns about his physical and mental health.

Tesla Inc shares closed at $305.50 on Friday, down $29.95 (-8.93%). Year-to-date, TSLA has declined -1.88%, versus a 7.73% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #4 of 24 stocks in the Auto & Vehicle Manufacturers category.