Wall Street analysts and financial/investment firms are still having a hard time when it comes to dealing Tesla’s (NASDAQ:$TSLA) stock. Some top firms have been doubtful in Tesla’s ability to keep up with its ambitious Model 3 production plans, and have told their clients as much. Additionally, firms have shown concern over Tesla’s future capital needs. Despite skepticism, however, Tesla’s stock has continued to rise since it released its second quarter earnings on Wednesday, August 2.

On Thursday, August 3, Tesla’s stock went up 6% at market open. “We were surprised by the after hours move in TSLA shares and continue to be cautious on the stock, especially as the risk profile shifts from the hype of the Model 3 to execution, or ‘production hell’ as Elon Musk refers to it,” Jeffrey Osborne, an analyst at Cowen (NASDAQ:$COWN), wrote to clients on Thursday. “We believe Tesla shares are an overvalued show-me story.” As such, Osborne has kept the previous underperforming rating he’d given Tesla. However, Osborne also raised his price target on the company from $155 to $170.

As Tesla continues to push Model 3 production, analysts have also shown an increased worry over the company’s future capital needs and other resources – especially since the company hasn’t given any details regarding how they will reach production goals. “As Tesla’s Model 3 ramp proceeds, we continue to have more questions about the company and the vagueness of details, coupled with lack of disclosure from management about true capital needs and expense levels need[ed] to obtain their ultimate vision,” Osborne noted.

On the subject of Tesla’s future capital needs, financial firm Goldman Sachs (NYSE:$GS) is on the same page as Cowen. “We now see TSLA needing to raise capital in 1Q18E (vs. 2Q18E previously) and continue to see downside risk to Model 3 production,” David Tamberrino, an analyst at Goldman Sachs, wrote on Thursday, August 3. Tamberrino has kept his sell rating on Tesla’s stock. However, he also increased the six-month price target from $180 to $200.

“Early Model 3 launch milestones look strong, but the $2bn of 2H capex will make your eyes water. Time will tell if they are tears of joy… 2H capex guide of $2bn is really big. 2x our forecast,” Adam Jonas, an analyst at Morgan Stanley (NYSE:$MS), wrote on Wednesday, August 2. Jonas has kept his equal weight rating and $305 price target on Tesla’s stock.

During Tesla’s quarterly earnings conference call, the company’s co-founder and CEO Elon Musk announced that Tesla isn’t thinking about doing an equity raise currently, according to a transcript from FactSet. However, the company could do a debt offering to help with its future capital needs.

Tesla’s stock has been one of the best-performing stocks so far this year, experiencing a 52.5% rise year-to-date through Wednesday, August 3. This is extremely significant when compared to the 10.7% year-to-date gain that the S&P 500 (INDEXSP:$.INX) experienced.

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