Josh Downs

Josh Downs enters the 2026 fantasy season as a steady PPR target with room to outperform his draft price. The Colts have publicly indicated they want to grow his role in the offense after he finished 2025 with 58 catches for 566 yards and 4 touchdowns, and recent fantasy outlooks still see him as a usable WR4 with mid-WR3 upside if things break right.

The biggest factor in his summer has been health, but the latest updates have been encouraging. Downs missed a stretch of camp in early August with a groin injury, though head coach Shane Steichen said it was not considered serious and he could return quickly; he was also briefly limited after a hard fall later in camp, so managers should still keep an eye on his status through the preseason.

From a fantasy angle, Downs is appealing because his game fits PPR formats well. He works best as a volume-based receiver who can pile up catches underneath, and current preseason rankings and projections place him in the WR40s range, which makes him a reasonable target in the middle rounds rather than a player to reach for early.

The realistic ceiling comes if Indianapolis leans harder into his route share and target count. If that happens, Downs can absolutely return WR3 value in a strong passing stretch, but if the offense spreads the ball around or his health lingers, he looks more like a reliable flex option than a weekly difference-maker.