In the FAQ/Guides section.
Originally posted by tpaterniti
If you set your favorite targets to None, that will improve your completion % by 5-8 points and cause fewer INTs especially when your QB is at a lower level. The only reasons you should set them is:
1.) If you have a big time mismatch you particularly want to exploit
2.) If you want to get the ball to your TE more
3.) If you have a WR who is either an excellent route-runner or has a lot of jumping, but does not have a lot of speed. Unless your team passes deep more than 65% of the time, I would turn the Favor Deep Passes option off.