They are: a competitive overlap that will be limited to 6%, and won’t be reached until 2011-2012; retention tools that will keep customer churn low at Rogers; high hurdles to entry into the market, a benefit to Rogers; the inability of new entrants into the wireless market to grab much more than a “meagre” 5% shre by 2014; a decline in the intensity of capital expansion at Rogers; the likelihood that analyst downgrades will eventually become upgrades; continued sales momentum from iPhone and the BlackBerry Bold launch; new text messaging price plans; dividend increases that should be coming on the basis of strong free cash flow growth; and a price-earnings valuation that is at unprecedented levels for Rogers.