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undervalue has 4 distinct synonyms spread across 2 of its 3 senses. Each sense below keeps its own list, because a synonym belongs to a meaning and not to a word: swapping one sense's substitute into another sense's sentence is how a thesaurus makes writing worse. Its one recorded opposite is overvalue.
Counts are distinct word forms across every sense. A synonym that appears under three senses is counted once here and shown three times below, under each sense it belongs to.
assign too low a value to
“Don't underestimate the value of this heirloom-you may sell it at a good price”
esteem lightly
Synonyms, antonyms and the broader and narrower relations for undervalue come from Princeton University’s WordNet. Full sources and licences.