Analyst Update: Chipotle, Fossil Group, Micron Tech

Analysts are weighing in today on fast-casual restaurant chain Chipotle Mexican Grill, Inc. (NYSE:CMG), accessories retailer Fossil Group Inc (NASDAQ:FOSL), and chipmaker Micron Technology, Inc. (NASDAQ:MU). Here's a quick roundup of today's brokerage notes on CMG, FOSL, and MU.

• CMG has plunged 5.6% to $452.84, and earlier touched a two-year low of $448.09, after getting hit with a series of bearish brokerage notes. Specifically, Oppenheimer downgraded the stock to "perform," while Sterne Agee CRT and Maxim cut their price targets to $435. In fact, Maxim opined, "a return to positive comps is unlikely before 2017." Taking a step back, Chipotle Mexican Grill, Inc. has fallen hard since gapping lower on earnings in late October, and running into a rash of food safety concerns. Amid CMG's fundamental and technical woes, short interest has been surging. During the last two reporting periods, short interest spiked over 77%, and now accounts for 7.4% of the stock's total float. However, at CMG's average daily trading volume, it would take just over one session to buy back these bets -- suggesting sideline cash remains rather limited.

• FOSL saw its rating reduced to "hold" and its price target cut by 40% to $40 at Jefferies, which weighed in on several retail stocks today. Specifically, the brokerage firm said sales are slowing on fashion watches, and watch makers face "mounting competition from wearables" such as Fitbit Inc (NYSE:FIT) -- in agreement with Goldman Sachs' mid-December note. Separately, Nomura cut its price target by $3 to $37. As such, Fossil Group Inc is staring at a 7.3% deficit at $33.90. This is great news for short sellers. Almost one-fifth of FOSL's float is sold short, which would take over one week to cover, at average daily trading levels.

• MU is off 0.9% at $14.03, following the health-related resignation of President Mark Adams and a price-target cut to $17 from $20 at Deutsche Bank. On a long-term basis, the tech stock has struggled mightily, surrendering nearly 60% of its value year-over-year. Additional bearish brokerage attention could come down the pike, too. Of the 25 analysts tracking Micron Technology, Inc., 16 still consider it worthy of a "buy" endorsement. What's more, the consensus 12-month price target of $18.45 stands at a 31% premium to current levels.