August 17 update: Waller is back at practice and appears to be over his hamstring injury, but Moreau is still in line for targets in the event the starter goes down. Moreau is likely to be available on the waiver wire in all leagues until something changes with Waller’s status.
Head coach Josh McDaniels told the media on Friday that he’s working his way back and he’s expected to return next week. Despite missing a handful of games last year due to various injuries, the seventh-year Pro Bowl tight end is still TE5 in fantasy average draft position.
For fantasy managers contemplating drafting Waller this season, it’d be wise to get familiar with his backup Foster Moreau. A fourth-year tight end out of LSU, Moreau creeped up onto some radars last season when filling in for the oft-injured Waller. He had the largest target share of his career in 2021, catching 30 of 44 targets for 373 yards and three touchdowns. In the preseason opener against the Jaguars, he hauled in one catch for 10 yards in the 27-11 victory.
Moreau is currently not listed on the ADP boards in fantasy, so you’d most likely be able to easily find him on the waiver wire at the start of the season.