With all this year's organized team activities (OTAs) and mandatory minicamps behind us, the NFL is taking its annual month-long break before training camps start rolling out in the second half of July.
Ideally, there won't be much going on -- in terms of NFL news -- during this lull in the action. But for fantasy managers who take their preparation seriously, there is no downtime.
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That's why the Fantasy Notebook will keep rolling with a position-by-position series on underrated players. Last week it was Underrated Running Backs. This week, it's Underrated Wide Receivers, starting at the top, with . . .
First- and Second-Round Wideouts with WR1 Overall Upside
As was the case with the top tier of running backs, underrated doesn't mean undervalued. Today, we'll look at two wide receivers being drafted as fantasy WR1s in the first two rounds of drafts, both of whom have legitimate chances to finish as the apex producer at the position.
If Consistency Were a Superpower . . .
Amon-Ra St. Brown would have a cape.
Of course, we all realize he's great. The 2021 fourth-round draft pick logged 117 catches last season, good for 1,401 receiving yards and 11 touchdowns.
In doing so, he became the fourth player in NFL history to top 100 receptions and 10 touchdown catches in three straight seasons. St. Brown is the only player in NFL history with 90-plus catches in each of his first five NFL seasons.
His WR3 finish last season was the fourth straight season he's been a top-ten fantasy wide receiver. It was his third consecutive top-three finish -- including a WR2 overall finish in 2024.
He's ranked no lower than fourth in catches, yards, and touchdowns in each of those three seasons.
With no major additions at wideout or tight end, expect Jared Goff to continue looking St. Brown's way as consistently as he has the last three seasons.
What's Not to Like?
I'm not here to argue St. Brown is overlooked. But underrated? I think so.
At the very least, it's fair to wonder why we view him on the tier below Ja'Marr Chase, Puka Nacua, and Jaxon Smith-Njigba. With that trio coming off the board in the first half of Round 1, rest easy knowing you can still land St. Brown with the eighth pick overall.
And if Chase, Nacua, or JSN stumble at all, St. Brown is every bit as capable of finishing as fantasy's WR1 as they are.
A Fresh Start Opens Up Brown's Ceiling
Since entering the NFL as a second-round selection of the Titans in 2019, A.J. Brown ranks fourth in the NFL in both receiving yards (8,029) and touchdown catches (56). Brown and Cincinnati's Chase are the NFL's only two players with at least 1,000 receiving yards and seven-plus touchdown catches in each of the past four seasons.
Brown left his mark in Philadelphia, where he has the two highest single-season receiving-yard totals in franchise history: 1,496 yards in 2022 and 1,456 in 2023.
Even though his frustration with the Eagles' offense grew over the past two seasons, the production remained strong. Brown pulled in 78 catches for 1,003 yards and seven touchdowns in 2025 -- the fourth time he has eclipsed 1,000 yards in as many seasons since coming to Philadelphia.
And here's what matters to us: Brown finished the year as WR11.
While it often felt like the star receiver was falling short last year -- there were five games when he failed to catch a pass in the second half -- Brown didn't finish all that far from his WR10 Average Draft Position (ADP).
With the trade that sent Brown to New England in June, Patriots quarterback Drake Maye now has a No. 1 target as part of a revamped depth chart that also includes free-agent addition Romeo Doubs.
As ESPN's Bill Barnwell wrote last week, there's still plenty of evidence that Brown is one of the top wideouts in all of football -- and we've seen it in the recent past.
He was fantasy's WR5 in back-to-back seasons in 2022 and 2023, before Saquon Barkley's massive 2024 NFL Offensive Player of the Year campaign and last year's offensive dysfunction in Philadelphia helped suppress Brown's fantasy production.
The Immediate Future is Bright
Now, Brown will be catching passes from an ascending young quarterback who isn't afraid to challenge defenses down the field. If Maye delivers on the promise he flashed the last two years, Brown has every opportunity to re-enter the conversation as one of fantasy's elite receivers.
That's why his current price stands out.
Fantasy managers are drafting Brown as a back-half WR at the end of the second round when he's already proven he's capable of finishing higher.
The combination of talent, a high-end passer, and opportunity puts a WR1 overall finish well inside Brown's range of outcomes.
Fourth-Round Receivers Who Could Produce Like First-Rounders
If you think the wide receiver position is deep, you're not wrong. But the position is packed at the top with a wide range of players available in the fourth round of your draft (and beyond) who are capable of finishing in WR1 territory. Here's a pair of fourth-rounders with the talent -- and perhaps circumstances -- to deliver as fantasy WR1s.
Wilson Finally Set for Takeoff
According to Barnwell, the best quarterback Jets wideout Garrett Wilson has played with during his four-year career, by a comfortable margin, is late-era Joe Flacco.
Nonetheless, Wilson ranked no lower than sixth among receivers in targets in each of his first three years. However, the 2022 first-round pick failed to produce a fantasy campaign better than 20th (on a points-per-game basis). ESPN's Mike Clay attributes that to New York's quarterback woes.
Could Geno Smith be the key to unlocking Wilson this year?
It can't hurt.
At the very least, Smith represents an upgrade over last season, when the Jets burned through Justin Fields, Tyrod Taylor, and Brady Cook at the position.
And if they get his best?
We saw peak Smith during his phenomenal three-year resurgence as the Seahawks' starting quarterback from 2022 to 2024. During this stretch, he led the NFL in completion percentage twice. An effective Smith would lock Wilson in as a high-end fantasy asset who will be force-fed targets in Frank Reich's offense.
While the Jets added to the mix in the draft with tight end Kenyon Sadiq and Omar Cooper Jr., receivers on the Jets' current roster not named Wilson have combined for 92 career catches and two touchdowns. Wilson led the team with 395 receiving yards last season . . . and he played only seven games due to a knee injury.
Wilson was off to a hot start last season (four TDs, 14.2 fantasy PPG) thanks to a massive 33 percent target share (second highest). His 16.6 fantasy points per game through seven weeks ranked ninth among all wideouts.
Talent, Circumstances, and Price Converge
Wilson, 26, is one of the best raw talents at the position. Drafting him at cost -- with the 37th pick overall -- opens the door to potential WR1-level output in Round 4.
New Offense Should Reignite McConkey
Ladd McConkey is widely viewed as a prime bounce-back candidate following a sophomore slump that saw his receiving yards drop to 789 in 2025.
Remember, the 2024 second-round pick was terrific as a rookie, hauling in 82 passes for 1,155 yards with seven touchdowns.
He finished his inaugural season as WR14.
But last year, McConkey's catch rate fell from 74 percent to 62 percent, and his yards per target from 10.4 to 7.4.
The good news is that there's reason for optimism that he'll bounce back.
Incoming Chargers coordinator Mike McDaniel outlined his plan to reshape how Justin Herbert plays quarterback: refining his footwork, timing, and anticipation to unlock the "best football of his career."
As part of that, McDaniel will bring creativity to an offense that could use a jolt.
It will start with motion. His Dolphins motioned on 67.5 percent of snaps in 2025, according to Sharp Football Analysis. By comparison, the Chargers were around league average at 50.6 percent.
According to USA Today's Nick Brinkerhoff, McConkey's route-running prowess was displayed in 2024, and putting the receiver in motion more should help him get more free releases to become a problem in space once again.
Reception Perception's Matt Harmon notes that McConkey consistently ranks as one of the best separators in the NFL, boasting high success rates against man, zone, and press coverage.
In terms of outside factors, Keenan Allen is no longer on the roster -- something that helps in multiple ways.
Herbert won't have the trusted pass-catcher, and Allen's targets will have to go elsewhere.
The Key to Success
McConkey is being drafted as WR19 with the 41st pick overall. I expect McDaniel to make him the focal point of the passing attack. And that unlocks all McConkey's talents -- and the WR1 upside he hinted at with his strong rookie campaign.
Aging Superstars Still Capable of WR1-Level Play
It's easy to get caught up in the pursuit of younger talent. But there comes a point where ignoring aging stars will cost you. Here are a couple of prime examples.
The Red-Zone Machine
Now that he's working opposite one of the top fantasy wideouts in the game, Puka Nacua, it's easy to forget just how great wide receiver Davante Adams is.
As Profootballtalk.com's Mike Florio notes, Adams' 60 catches in 2025, his first year with the Rams, put him at No. 16 on the career catch list with 1,017. Another 60-catch season would put Adams in the top 10, one reception ahead of Anquan Boldin and one behind Terrell Owens.
But the reception totals aren't why he makes this list (for me) on an annual basis.
The touchdowns are.
Adams ranks seventh in career touchdown receptions, with 117. He has led the league three times -- and he's the only player to do that with three different teams (Packers, Raiders, Rams).
Last year, he pulled in 14 touchdown passes in only 14 games.
As Barnwell noted, Adams was open for at least four or five more, only to be let down by some combination of poor throws, pressure, and drops.
Adams had nine touchdowns inside the five-yard line last season, and Dallas Goedert was the only other player with more than four. That seems unsustainable in 2026, but again, Adams was routinely open time after time near the end zone.
And he has Matthew Stafford's attention when he's there.
According to Clay, Adams' 27 end-zone targets were nine more than any other player, and he now sits second in that category (148) since entering the league in 2014.
The Bigger Deal
More importantly, he's playing in a Rams offense so potent that even working opposite Puka Nacua, Adams managed a WR9 overall finish last season.
That was his ninth top-10 campaign in his past 10 seasons.
It's hard not to feel great when I land Adams at his WR22 Average Draft Position (ADP) in the fourth round (46th overall), given his long history of WR1 production.