(COF) Reit 1-Overweight We expect a solid second quarter from Capital One fueled again by credit, though not, this time, by reserve release or residual interest revaluation. Reiterate 1-Overweight and $90 target. We are raising our 2Q estimate to $1.60 from $1.53, though we are leaving our full-year 2004 estimate unchanged at $5.88, and our full-year 2005 estimate is also unchanged at $6.76. Our 2Q change is driven by the better-than-expected credit improvement shown during the second quarter. However, unlike prior quarters in which credit improvement has also been the story, we are not expecting to see either reserve release or positive revaluation of the residual interest
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