Home automation company Plejd rises 2.8 percent on Friday after Redeye initiated coverage of the company. The fair value in the base scenario is set at SEK 1,220 per share.The research firm points to the company’s electrician-focused business model and strong distribution channels as key drivers behind continued high growth. At the same time, Plejd is expanding its product offering and rolling out its business model in Europe.The stock is trading at SEK 1,055 and is up 45 percent this year.