One underrated team that can still win the competition is Uruguay; they are at the top of their group with the convincing 3-1 win they had against Panama, with Darwin Nunez scoring in that game.
Colombia will play Paraguay later today
Anything can happen in football via the underrated team winning a league trophy. However, I don't see Uruguay winning the Copa America League trophy over Argentina or Brazil.
Uruguay having a fantastic 3-1 win against Panama in the first leg group match doesn't guarantee them the better contender for the Copa America trophy. Remember the league match just started, so many matches are to be played before reaching the finals. Uruguay will face tough teams before their way to the finals. They can be eliminated along the way or make it through. Who knows.
Colombia won Paraguay by 2:1, yesterday
I also can see past Brazil or Argentina winning this tournament, but there are still doubts being casted over Brazil chances and potentials, especially due to their first match result. I think that's just one match, and they didn't play awfully if you ask me, the goals just wouldn't come.
Argentina have continued their 100% record with well fought victory over Chile, despite being the dominating team, they had to wait until the 88th minute of the match to finally find away to break through the impregnable Chilean defense, they've earned their ticket for the knockout stage.