UBS Starts ADP at Buy, V, MA, WU, PAY, PAYX at Neutral

An analyst at UBS initiated coverage on a number of stocks in the Payment Processing group Thursday morning:

• Automatic Data Processing (NYSE: ADP) with a Buy rating and a $63 price target
  
• Visa (NYSE: V) with a Neutral rating and a $124 price target
  
• MasterCard (NYSE: MA) with a Neutral rating and a $439 price target
  
• Western Union (NYSE: WU) with a Neutral rating and a $19 price target
  
• VeriFone (NYSE: PAY) with a Neutral rating and a $50 price target
  
• Paychex (Nasdaq: PAYX) with a Neutral rating and a $37 price target

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