Stephens analyst Vincent Caintic said his checks revealed that Progressive, a unit of Aaron's (AAN), is no longer listed as one of the four "partners" of WayFair Financing on Wayfair's (W) website as it is his understanding that Zibbys and Affirm displaced Progressive at the furniture company. While he thinks it is still possible that Progressive may return as a financing partner in the future and believes there is significant white space in retail partnerships for all rent-to-own players to succeed, the news makes him incrementally more positive on Curo Group (CURO) given their 40% ownership stake in Zibbys, Caintic tells investors. He keeps an Overweight rating and $80 price target on Aaron's shares and called the stock his top pick coming out of the firm's Investment Conference.

Bullish option flow detected in Wayfair with 10,218 calls trading, 1.2x expected, and implied vol increasing almost 4 points to 81.40%. May-24 60 puts and Sep-24 60 calls are the most active options, with total volume in those strikes near 3,800 contracts. The Put/Call Ratio is 0.64. Earnings are expected on May 2nd.

TD Cowen raised the firm's price target on Wayfair to $55 from $50 and keeps a Hold rating on the shares. The firm said they expect the company to report revenue and EBITDA slightly below current consensus estimates when it reports earnings.