Capital One CEO Richard Fairbank said during an investor conference on Tuesday that "the only issue that we face at the moment is that demand is pretty soft. The consumer is clearly deleveraging but even relative to our own expectations." Shane estimates that Capital One's total U.S. credit card loans will decline to $78.7 billion at the end of the first quarter, but also said that lower card balances would be offset by lower provisions for loan loss reserves. "In the past, this has led to positive earnings surprises." The analyst rates Capital One "overweight," with a price target of $65. -- Written by Philip van Doorn in Jupiter, Fla.COF data by YCharts Interested in more on Capital One? See TheStreet Ratings' report card for this stock.