Cogeco expects to have 7,000 to 8,000 cable telephone customers by the end of fiscal 2006 - a number analysts see as very conservative. TD Securities, for example, was looking for 30,000 in F2006.. So far, the service has only been launched in three markets, while Cogeco still plans to spend a modest $5-million this year on capital expenditures. Cogeco's cautious approach contrasts with its Quebec peer, Videotron Ltee, which has takent market by storm (42K subscribers) with its inexpensive ($15.95 to $30 a month) telephony service in Montreal and Quebec City.