Tesla's stock price has tumbled sharply from its latest peak but some analysts don't see cause for concern.Despite the carmaker's 15% dip from its peak, some still see see double-digit gains for the stock ahead.

The analyst also noted in a CNBC interview that Tesla owners paying the additional $8,000 upgrade for existing vehicles to adopt FSD would result in a big boost in profit margin. That would help provide a return on the huge amount of capital Tesla spends on artificial intelligence (AI) infrastructure to develop FSD.

Key Takeaways Tesla shares have gained ground the past two sessions after a five-day losing streak during which the stock lost 18% of its value. Despite the recent pullback, the shares have trended sharply higher since breaking out from an ascending triangle in early November following the U.

Tesla stock slipped on Tuesday after Bank of America said it sees shares fairly priced, with some risk to the downside.