Barclays analyst Brian Johnson, who has an Underweight rating on the shares with a $210 price target, says Tesla’s Q3 results could lead to a rebound in the stock.

The analyst, however, expects a “drift down” in the shares on profit and cash worries until the earnings call. Johnson thinks Tesla can report stronger than expected free cash flow in Q3, driven by increased payables. The strong, “albeit temporary,” cash flow, along with a non-GAAP profit and likely typical bullish management commentary could drive Tesla shares higher, Johnson tells investors in a pre-earnings research note. He believes Tesla’s Q4 production “needs to hold steady to preserve cash.” This is likely why the company unveiled the mid-priced Model 3 variant, Johnson says.

Tesla closed yesterday at $260.95.