Flight Centre Travel Group Ltd (ASX: FLT) has taken its shareholders through a severe batch of turbulence recently, but one broker thinks that’s created a buying opportunity.

The travel business’ share price rose to a high of $45.37 in March this year, but has experienced a sharp descent in the time since. It fell as much as 16% between Monday and Tuesday this week to a low of just $30.93, which represents a loss of nearly 32% in just over two months.

However, the shares have since rebounded to $33.26 after Credit Suisse increased its rating from “neutral” to “outperform”, suggesting it is still confident in the business’ future. It did, however, cut its price target on the shares from $41.44 to $38.61, according to The Sydney Morning Herald.

But Credit Suisse wasn’t the only group re-evaluating its stance on Flight Centre. Bell Potter cut its price target on the shares by 12% to $35.70, according to Dow Jones Newswires, while Deutsche Bank lowered its own target by 25% to $36.

The Wall Street Journal shows that the average price target on the shares is $35.95, while the low is just $28.26, with most analysts viewing the shares as a ‘Hold’.

Indeed, an investment in Flight Centre isn’t without its risks. The company has now delivered three earnings downgrades in the space of just 18 months (and used a few soft excuses as well), while the company’s bricks-and-mortar shopfront business model has also been called into question numerous times.

However, Flight Centre is a quality, founder-run business with plenty of cash on its balance sheet. Better yet, it has consistently proven the Flight Centre bears wrong and there’s no reason to suggest it won’t continue to do so in the future.

Investors do have reason to be wary, however, especially in the near-term considering the variety of excuses cited by the company for the latest downgrade. But while its shares are down, long-term investors could take the opportunity to run the ruler over Flight Centre and potentially look to begin building a position in the business.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.