Tng, in his Nov 24 note, remains upbeat on the company's prospects as he kept his "add" call.
William Tng of CGS International has trimmed his target price for Sanli Environmental from 51 cents to 47 cents, to take into account a larger share base following a $10 million placement.
On Nov 24, the engineering firm announced its plans to issue 38.5 million new shares at 26 cents each, a price level that was a discount of 9.34% off the volume-weighted average price of 28.68 cents.
