This article examines the professional vision of mathematics teacher developers during a professional development experience that featured observations of a content course for elementary teachers. The researchers examined whether these mathematics teacher developers viewed the demonstration class as an analysis class serving as a site for reflection and analysis, or a model class serving as an example of teaching to be emulated. Results indicated participants could hold either view and, in some cases, both. Each view provided opportunities for professional reflection, but particular aspects of the experience promoted an analysis class view.