The Denver Broncos missed the playoffs during the 2019 season, but this a team that a lot of people are excited about heading into the 2020 season. They still have one of the best defenses in football, and it looks like Drew Lock is the future at quarterback.

Heading into the 202o offseason, the Broncos are projected to have over $58 million in cap space. They have the money to go after big-name players, but it's also going to be important to go after underrated free agents who can have a positive impact on the team.

Let's break down three underrated free agents the Broncos should target.

Randall Cobb

There are more talented wide receivers in free agency this offseason, but the price should be right with Randall Cobb. He has proven to be a solid wide receiver for many years, and he's coming off a stellar season with the Dallas Cowboys.

Cobb caught 55 passes for 828 yards and three touchdowns this past season. Surronding Lock with veteran wide receivers should be a top priority, and Cobb makes a lot of sense.

The team has the cap space to bring in a player like Robby Anderson, too. If Anderson and Cobb are on the Broncos for Week 1 of the 2020 season, the rest of the AFC West should be nervous.

Chase Daniel

All signs are pointing toward the Broncos moving on from Joe Flacco this offseason, which means they need to find a cheaper option to be the backup for Drew Lock.

Chase Daniel has been a solid backup to Mitchell Trubisky the last few years, and he would be a good veteran guy to have to help Lock continue his adjustment to the NFL.

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Daniel has also proven he still has what it takes to win a game or two if Lock were to go down with an injury.

Jason Peters

This is more of a flier, but Jason Peters is a guy who could provide some much-needed depth on the offensive line. Peters is 38 years old and injury-prone, so trusting him to start a full season probably wouldn't be too smart. However, bringing him in as a depth piece would make a lot of sense.

Denver's offensive line needs more veterans on it, and even bringing in Peters in to be a locker room guy could make a difference.