Tesla Model 3 Production On The Rise

Investing.com - Tesla (NASDAQ:TSLA) is moving into a higher gear.At least one Wall Street firm thinks so. Keybanc Securities says its research shows Tesla is producing more of its new Model 3 cars than previously forecast, which will boost revenue. The firm raised its estimate for Model 3 deliveries for the second quarter.KeyBank also raised its revenue estimate, which is now higher than the Wall Street consensus. Periodic concerns about Tesla meeting its production targets have dogged the automaker, which caused a selloff in its stock earlier this year. Keybanc reiterated its rating and stock price target, saying "there is significant premium in the stock."Tesla just announced layoffs as part of a reorganization plan to cut costs.