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Tesla shares are down more than 10 percent since the market's recent high, and for one investment pro that has provided a "unique opportunity" to be a buyer of the electric automaker.
"There's no competition and no competition coming for a luxury niche electric vehicle to compete on range with the Model S," James Albertine, analyst at Stifel Nicolaus, said in an interview with CNBC's "Closing Bell. "
On top of that, he said, Tesla has led the way in front-end loading its investment in its facilities, in-sources 75 to 80 percent of its production and has the benefit of a reservation backlog.
One reason for the stock's recent drop is a note released by Morgan Stanley on Monday that suggested Tesla had risen for the wrong reasons. Shares also fell after CEO Elon Musk said last week that he thought the stock price was "kind of high right now."
To Albertine, those comments are one of the reasons he likes Musk, but it doesn't change his bullish view.
Albertine said he sees two key tailwinds—Tesla can take share from traditional luxury auto manufacturers and can bring a new consumer to a higher-end price point.
"It's a disruptor. It's the only disruptor, quite frankly, that you can invest in if you want to talk about smart vehicles and autonomous manufactured vehicles down the road," Albertine said.
However, Charles Sizemore, chief investment officer of Sizemore Capital, thinks the stock has gotten too expensive.
"There is a price at which it no longer makes sense to buy it," he told "Closing Bell. "
Compared with high-end automakers, Tesla is trading at a premium, Sizemore said, noting that it is 26 times more expensive than Mercedes-Benz maker Daimler.
Plus, "if the best-case scenario comes true, if Tesla really does take the auto world by storm, if Tesla becomes the new standard, how much of that is priced in?" he asked.
—By CNBC's Michelle Fox
Disclosures: Tesla is an investment banking client of Stifel Nicolaus, and Stifel Nicolaus makes a market in the securities of Tesla. Charles Sizemore and his firm do not own shares of Tesla.