CFRA analysts downgraded Tesla Inc. TSLA, +2.70% stock to sell from hold Monday, and said it does not expect the company's production rate of 5,000 Model 3 mass-market sedans a week is sustainable. Tesla shares were higher, after the electric car maker said it met its deadline of achieving 5,000 Model 3s, albeit a few hours after the original midnight deadline. The company said it is now shooting for 6,000 Model 3s a week by the end of August and reiterated its guidance that it will profitable and cash flow positive in the third and fourth quarters. But CFRA analyst Efraim Levy said the it does not view the production rate as "operationally or financially sustainable," although he conceded that it could become so over time. "As usual, we expect the bulls and bears to largely reiterate their views after the latest development," he wrote in a note. Separately, he said reports that Tesla is asking for another $2,500 non-refundable deposit from Model 3 reservation holders "as a little unnerving, as it seems to be an aggressive attempt to meet otherwise difficult targets of being cash flow positive in Q3.," he wrote. Tesla shares are now trading well above Levy's 12-month target price of $300, he said. "Our view is now sell." Tesla shares have gained 11.5% in 2018, while the S&P 500 SPX, +0.33% has gained 1.4%.