NEW YORK (TheStreet) -- Tesla Motors(TSLA) - Get Report stock is down 1.56% to $216.85 in afternoon trading on Monday after Oppenheimer analysts projected the automaker's production goals will be the main target for bearish analysts.
"We believe a successful raise of $1.7B in a secondary offering takes one of the clear bear arguments off the table for Tesla shares," Oppenheimer analysts noted, according to Barron's. "We expect bears to now focus their doubts on the company's ability to reach production targets and operating leverage."
Oppenheimer remains bullish on the electric automaker, and they have an "outperform" rating at the firm.
"We expect Tesla to get the benefit of the doubt and believe the company will deliver enough to drive shares substantially higher," analysts added, Barron's reports.
Additionally, Tesla shares are also being pressured by reports that the United Auto Workers is seeking to start a union at Tesla.
Tesla's goal to produce 500,000 vehicles through 2018 could be questioned further if a union demands higher wages and stricter labor guidelines, according to TheStreet's Doron Levin.
Separately, Tesla Motors has a "sell" rating and a letter grade of D+ at TheStreet Ratings because of the company's deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and disappointing stock performance.
You can view the full analysis from the report here: TSLA
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.