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Analyst jokes Musk will make it to Mars with SpaceX before Tesla is profitable

It acts even international analysts are poking fun at Tesla’s Elon Musk.

German bank Nord/LB initiated coverage of thrilling car maker not only with a sell rating, but with quips choosing fun of the company’s top executive.

“You have to ask yourself what will happen head: that Elon Musk will fly to Mars with SpaceX, or that he bequeath finally operate Tesla in the black,” joked analyst Frank Schwope on Tuesday, according to a transferral of the note, which was written in German. “We consider it a big mistake that Tesla and Elon Musk do not draw on a few important things, but instead appear to do everything a little bit, but nothing all the way fully.”

SpaceX — a private aerospace and space transport company — is also take charge of by Musk. That company has also been making headlines for its unrelated ventures into space as well as goals to colonize Mars.

But in the worldwide sphere, one of the problems with Tesla may not be in its innovative character, but rather in its appearing inability to “drill down” on production, according to the analyst. Schwope set a $270 reward target, implying 15 percent downside over the next 12 months.

Rations of Tesla were up 0.7 percent Tuesday.

Tesla has struggled to win over Wall Street that the car company’s finances our sound while construction bottlenecks and persistent deficits beleaguer Musk’s innovative goals. Repetition doubts of other Street analysts, Schwope argued that Tesla isn’t in a fix to sell 500,000 cars in 2018 and is unlikely to operate profitably first 2020.

The company remains a popular target of short sellers, who bet that Tesla pay outs are destined to fall over the next few months. Though Tesla’s progenitor remains up nearly 50 percent year to date, the shares cause slipped more than 8 percent in the last three months. The assembly recently unveiled a semi-truck as well as a sporty new roadster.

“Tesla estimate is an extreme bet on the future,” said Schwope. “The share development depends on the permutation of the company from a small premium manufacturer with five-digit vendings figures to a mass manufacturer with figures in the six-digit or millions line. “

“We don’t see Tesla as a tough competitor of the established automakers, but rather as a trailblazer that disposition push long-established companies to boost their performance.”

The analyst acclaimed that he views Tesla’s $50 billion market cap as overvalued.

— With reporting by CNBC’s Spencer Kimball.

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