The Financial Post reports in its Tuesday edition that competition between the telcos has turned into a "game of inches" as it becomes harder to differentiate between the big players, according to RBC Capital Markets. The Post's Emily Jackson writes that similar growth expectations, a tight valuation range and an expected lack of company-specific new business opportunities in the next year have RBC analyst Drew McReynolds struggling to find much of a difference between BCE, Rogers and Telus. "We believe stock selection is boiling down to a 'game of inches' with it being increasingly difficult for any one stock to 'break out of the pack,'" Mr. McReynolds wrote. RBC downgraded Bell and Rogers from outperform to perform. However, he upgraded Quebecor (Videotron) to a top pick and Shaw (Freedom) to outperform because they have more room to grow in the wireless segment. RBC raised Quebecor's target price to $44 from $43 and Shaw's to $29 from $26. Quebecor won top pick given its near immunity to increased wireless competition from Shaw, which largely operates in Alberta, British Columbia and Ontario. Shaw got its ratings boost from expected growth driven by wireless, its Comcast X1 IPTV product and ultrafast Internet.