Mystified Tesla bears on Wall Street admit there appears to be nothing that can stop the stock right now

The China-built Tesla Model 3 is unveiled at a Tesla store on November 22, 2019 in Shanghai, China.
Zhang Hengwei | China News Service | Visual China Group | Getty Images

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Even the Tesla bears agree there's no stopping this stock.

Barclays and Morgan Stanley continue to hold underweight ratings on the electric vehicle maker, but both firms said Tuesday that the stock is poised for more upside — at least in the near term.

"While we still believe TSLA is fundamentally overvalued, we see nothing to prevent the shares moving higher in the coming weeks," Barclays said. "Our long-term concerns remain, but are not seen as tangible or near-term to stop the rally," added Adam Jonas, Morgan Stanley's widely-followed auto analyst.