Shares of Revlon Inc. declined in Dec. 1 morning trading after a Goldman Sachs analyst cut her rating on the cosmetics maker, citing long-term growth concerns. Revlon shed 12 cents, or 7.4 percent, to $1.51 on the NYSE. The stock has traded between 76 cents and $3.95 in the past 52 weeks, and is down 47 percent from the beginning of the year. Goldman Sachs analyst Lori Scherwin in a client note cut her rating to “Sell” from “Neutral,” saying shares have recently reclaimed some ground. “This, coupled with our ongoing concerns of the long-term sustainability of business trends, has made the stock look expensive in our opinion and is the basis for our downgrade,” wrote Scherwin. “This is a longer-term call.” The company has turned focus back to its core Revlon brand, but the analyst is skeptical of a recovery for the stock due to heavy competition and a lack of innovative new products. In the near-term, shares could see some support if margins improve markedly in 2007, but this is already priced into the stock’s price, she wrote. Scherwin lifted the stock’s target price to $1.30 from $1.