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That's how Pacific Crest's Brad Erickson describes the current debate around Tesla Motors (TSLA). He is, however, feeling optimistic about Tesla's future, even as he lowers its earnings estimates:

Associated Press

We have lowered our ASP and gross margin assumptions modestly to account for

. Further, we have tempered our ramp-up assumptions for Model X gross margins. As such, we are lowering our target to $293 from $300 based on 4x our new 2016 revenue estimate...

Bears cling to the notion that demand is not sustainable,

and execution issues that have plagued the company recently will persist. Bulls believe the recent near-term hiccups are just noise and longerterm opportunity should be the focus. We wouldn't disagree. We think Tesla has established an extremely difficult-to-achieve foothold at the high end from which it can continue building momentum with future product cycles, provided there is reasonably solid execution. We remain buyers of the stock.

Shares of Tesla Motors have ticked up 0.2% to $198.43 at 1:38 p.m. today.