Latest target for Harvest One is $2.50 :)Cannabis company Harvest One has a 194 per cent upside, Mackie Research says /June 8, 2018/ by Jayson MacLean Cannabis company Harvest One (TSXV:HVT) has acquired sleep aid brand Dream Water for $34.5 million, a move which will give Harvest One a well-established brand presence, says Greg McLeish of Mackie Research. In a client update on Friday, the analyst reiterated his Buy recommendation and $2.50 target price for HVT. On May 30, BC-based Harvest One announced the acquisition of Dream Water, which markets single-serving 2.5oz liquid shots containing sleep agents melatonin, GABA and 5-HTP. Harvest One intends to expand the Dream Water brand into the cannabis space to produce CBD-based and/or full-spectrum hemp-based products, says McLeish, who argues that the acquisition positions Harvest One as a global first mover in the cannabis sleep-aid market. Dream Water has a well-established brand presence in the sleep aid market and this acquisition adds a ready-made consumer goods marketing, distribution and product development division to Harvest One, says McLeish. Following this acquisition Harvest One will have a cash position of approximately $62 million and zero debt. This strong cash position will will allow management to continue with its capital expansion plans, pursue strategic acquisitions, and address potential working capital requirements, he says.