Goldman pulls SunEdison from Conviction Buy list

|By:, SA News Editor

Goldman's move comes a day after SunEdison (SUNE -0.4%) sold off in response to its Q1 results, which were accompanied by an increase in the company's solar project pipeline and a decrease in its backlog. Separately, Needham has cut its PT by $1 to $22.

SunEdison, beloved by David Einhorn, is down 22% from a March 6 high of $21.93, but still up over 3x from a 52-week low of $5.