Erickson went on to describe the short thesis as "increasingly fatiguing."
"Bears think that Tesla may not be able to sustain demand to support the Q4 ramp, and we think they are looking at an execution misstep to drive a shift in sentiment versus the persistent increase we've seen since the beginning of this year. Given the strength of orders for the Model X and our views of steadily rising demand for the Model S, we view this scenario as unlikely. While we're not ruling out the X possibly being delayed by a few weeks, any weakness this might drive would likely be temporary and incremental long-term believers would it see as a buying opportunity, in our view. As such, we remain buyers of TSLA and see upside to $293," said Erickson.