It's like a miracle has happened: Cogeco has suddenly become bullish about cable telephony. Instead of looking to have an "underwhelming" 7K to 8K telephony customers in fiscal 2006 (year ending Aug. 30), the company has revised its targets to 32K to 37K due to "strong demand". To be honest, I could have told CEO Louis Audet a long time ago that cable telephony was going to resonate with consumers looking for an alternative to Bell Canada. I mean, all you need to do is look over at Videotron, which has won over more than 100K subscribers since February. Still, it's good to see Cogeco jump on the bandwagon, even if it continues to adopt a somewhat conservative approach given it has 821,433 cable customers. It needs to be pointed out Audet has a pragmatic approach to expanding new services with a strong focus on ROI. This contrasts with Videotron, which has zealously pursued market share by offering phone service for as low as $15.95 a month to its best - and most lucrative - customers.