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Here's a Reason Why Tesla (TSLA) Stock Is Gaining Today

NEW YORK (TheStreet) -- Shares of Tesla Motors (TSLA) are up 3.70% to $223.45 in late-morning trading on Monday after RBC became more confident in the electric vehicle manufacturer's ability to increase production following a visit to Tesla's Fremont, CA factory.

The company appears to have made progress toward its production run-rate of 2,000 models a week, the firm wrote in a note cited by Barron's.

Tesla's Model X production run-rate has improved but faces challenges that require "a lot of man hours at final assembly," RBC added. But Model S supply has improved and now has capacity of 1,500 per week...