The polarizing debate on the Street regarding the future of electric vehicle industry pioneer Tesla Inc. (TLSA) rages on with the latest note from one bear who doubts that the Palo Alto, California-based automaker can meet its Model 3 production targets after a series of delays. (See also: 3 Things We Heard at the Tesla Annual Meeting.)

On Tuesday, Goldman Sachs reiterated its sell rating on shares of Elon Musk's car company, expecting the stock to suffer as the firm falls short of the 澳洲幸运5开奖号码历史查询:consensus estimate for its first mass-market vehicle. Tesla is slated to report i🗹ts second-quarter production and delivery numbers in the first few days of July.

In a note to clients, Goldman Sachs analyst David Tamberrino upped his forecast for Tesla to report 22,000 unit deliveries of its mid-size electric sedan in Q2, compared to his previous estimate of 19,000 vehicles, and yet still short of the consensus at 28,000, according to FactSet. The bear based his est𝓀imates off data from InsideEVs.com, GreenC𝐆arReports.com and registration bureaus in various European countries. 

Everything Rides on Model 3 Targets

Tesla's outspoken and high-profile CEO Elon Musk has indicated that it is "quite likely" that the firm will reach its goal of 5,000 Model 3 sedans per week by the end of this month. Tamberrino joins♔ the Musk skeptics, writing that while Tesla may be able to meet its targets in the short term with extra assembly lines at its Fremont, Californiaജ, factory, such a volume may not be sustainable in light of a history of volatility. 

However, many investors are already pricing in the 5,000-per-week run-rate in TSLA shares, and have moved the conversation to vehicle 澳洲幸运5开奖号码历史查询:profit margins and the conversion of Model 3 reservations to hi꧋gher-priced vehicles, wrote Tamberrino. 

Goldman expects Tesla to post a 4% and 5% increase in Model S and Model X deliveries, respectively, over last year, resulting in a 澳洲幸运5开奖号码历史查询:consensus beat. However, investors will remain focused on Model 3 numbers as the car has been viewed as vital to the company's push into the mainstream and as a key to hedge against competition from traditional automakers: General Motors Inc. (GM) and Ford Motor Co. (F)

Tesla shares are trading up 2.1% at $349 as of Wednesday morning, reflecting an 12.1% increase 澳洲幸运5开奖号码历史查询:year-to-date (YTD), outperforming the 澳洲幸运5开奖号码历史查询:S&P 500's 2.6% return over the same respective periods. (See also: Tesla Sues Former Employee for Hacking and Theft.)