This afternoon it was reported that Telsa will yet again pause production at its core Fremont factory for six days at the end of May (May 26-31) in order to work on fixes to its assembly line of the rollercoaster Model 3 production saga. While Musk & Co. already announced 10 days of temporary shutdowns this quarter in hopes of fixing and smoothing out manufacturing issues and bottlenecks that have been the black cloud over Tesla for the last six months, this latest news adds to some of the Street worries around all-important Model 3 production targets. This shutdown comes on the heels of its senior engineering head Doug Field taking a “break” from the company, news that a flatter management structure at the company is on the horizon along with a hackathon announced on Sunday to fix the two worst production choke points for the Model 3. While its been a bumpy few weeks for investors with much frustration, importantly it appears production on Model 3 is slowly moving in the right direction as this remains a linchpin for the company’s long term success and thus limit its cash burn situation which remains a clear overhang on the stock. Taking a step back, the focus for Tesla, Musk, and investors is laser centered around ramping up Model 3 production efforts to narrow the gap on the production line reaching the elusive 5,000 per week mark, which has been its Achilles heel. While its been an Everest-like uphill battle over the last year with many production speed bumps, it appears the company is significantly ramping up Model 3 production closer to 3,000-3,200 per week with a clear realistic trajectory to hit the company’s long stated target goal of 5,000 per week over the coming months in our opinion with an early July timeframe being the sweet spot. However, any further shutdowns and bottlenecks could be the straw that broke the camel’s back towards hitting the 5,000 target, which remains the key risk to the story along with the cash burn situation/potentially raising capital in 2019. We are closely watching progress on the bottleneck situation as Musk rolling up his sleeves along with his engineering team looking to smooth out some of the clear production issues will be a major positive catalyst for shares moving forward if successful. While Tesla and Musk are tracking well behind its original 5,000 per week goal on the Model 3, we are encouraged by some of the progress in the field, although hitting these all-important targets by the late June/early July timeframe will be integral to the stock (and its cash burn situation) during these pivotal few months ahead. That said, losing a major engineering force within the company at this crucial juncture is a bit “head scratching” and does add more uncertainty and worries to the Model 3 production worries, with this latest shutdown not the news the bulls were hoping for. We maintain our Attractive rating and $320 price target on shares of Telsa.