Steve Smith is a trusted target of Eli Manning as shown by his 159 targets last year compared to Nicks’ 75. Only Brandon Marshall had more red zone targets than Smith last year.
Second, I look for the Giants to not throw the ball as much this year and get back to the ground game and a more balanced attack. This means less catches to spread around than last year and split between Smith, Manningham, Nicks, Boss, Boss (not a typo, there are 2), and Bradshaw. So although his targets may increase some if he cements his #2 role alongside Smith, I still believe Nicks will have less targets (90) to Smith (130) and therefore less fantasy points.
That being said, Nicks is a huge talent with good speed (4.5 – 40 time) and a big player (6’0 – 212 lbs). He breaks long catches as 5 of his 47 catches last year went for over 40 yards and he posted a large average/catch (16.8). Depending on how deep your league is, Hakeem Nicks could still be a good value pick. If Nicks drops to you in your draft at a spot that isn’t a #1 or #2 WR position, he has big upside potential and will be worth drafting as your 3rd WR.