Watkins has a Jones fracture in his foot, which typically takes about 8-12 weeks to heal, BuffaloBills.com reports.
That would mean, at worst, Watkins should be ready to play during the preseason. The injury may affect the development of his rapport with Tyrod Taylor, who's only entering his second season as a starter. We wouldn't knock Watkins down too much from his previous preseason value, but both his foot injury and overall ability to stay healthy merit watching.