With all this year's organized team activities (OTAs) and mandatory minicamps behind us, the NFL is about halfway through its annual break before training camps start rolling out later this month.
So far, there hasn't been much 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 is using this time to roll out a position-by-position series on underrated players. Two weeks ago, it was Underrated Running Backs. Last week, we covered Underrated Wide Receivers.
Next up? Let's roll through some underrated tight ends who merit our attention, starting with . . .
Fringe TE1s with Room for More
If you find yourself thinking the number of draftable tight ends is deeper than ever, you're not alone. As Footballguy Jason Wood explained in the 2026 Footballguys Draft Guide, "As multi-faceted, game-breaking talents have flooded the league, the positional floor has risen." It's not as difficult as it once was to find high-end upside throughout your draft. Let's start at the bottom of the top, with a couple of fringe players who could provide solid TE production.
Time to Cowboy Up
While his TE11 Average Draft Position (ADP) suggests he's not totally overlooked, it's not hard to make the argument that Cowboys tight end Jake Ferguson is underrated.
While he lacks the elite athleticism of up-and-coming stars like Brock Bowers and Trey McBride or the long-term success of veteran players like Travis Kelce or George Kittle, Ferguson has emerged as a reliable target for Dak Prescott in a high-scoring Dallas offense, which has led to solid fantasy production.
At times, it's been better than that.
Last year, Ferguson set career highs in catches and touchdowns on the same number of targets as he had in 2023.
In fact, Ferguson has handled a 17 percent target share each of the past three seasons, and he's coming off a 2025 campaign in which he ranked third among tight ends in receptions, touchdowns, and end-zone targets (10).
He finished the season as TE4 overall, and his nine top-12 fantasy weeks tied for second-most at the position.
So Why Isn't He Ranked Higher?
Assuming good health at wideout this season, it's fair for fantasy investors to wonder if Ferguson will continue to get the volume necessary to produce at a high level.
CeeDee Lamb and George Pickens will continue to be Prescott's primary targets. They finished in that order in target share last season, with Lamb earning a 21.7 percent share and Pickens 21 percent.
Ferguson ranked third on the team last year, but Ryan Flournoy presents an increasingly solid third option at wideout who could make inroads on the tight end's workload.
But That's Not Guaranteed
According to FanSided's RJ Ochoa, this feels similar to 2021 when the Cowboys had a tried-and-true trio of Lamb, Amari Cooper, and Michael Gallup. We never really got to see the three of them shine on a game-by-game basis for a variety of reasons, but it led to the emergence of then-Cowboys tight end Dalton Schultz.
That season was the first of consecutive campaigns in which Schultz averaged double-digit yards per reception. Ferguson did that as well in 2023, the first year that Schultz was gone.
Ochoa reminded readers that much of Schultz's success was due to all of the dangerous downfield threats that opponents had to deal with. It's easy to envision Ferguson benefiting from that this year.
Expectations Are Low
Even though he's being drafted at the tail end of TE1 territory, a third top-10 fantasy finish in four seasons is very realistic for Ferguson. In fact, an injury-marred, three-game 2024 season might have fantasy investors dialing back more than they should.
He might need another top-10 outcome to change that perception, but I'm already sold.
For me, a ninth-round pick is more than worth the price of admission for Ferguson, who is currently TE8 on my rankings.