Released by Northampton over the summer, the 28-year-old Welshman has warned his new side that Aidy Boothroyd's men will pose a threat, in particular striker Bayo Akinfenwa.
"I have warned our boys of Bayo, who is a big threat," said Davies, quoted in the Western Morning News.
"You won't see him for much of the game, but he can put his head on something and get a goal.
"A lot of their play and long throws and corners are built around him and he does get a lot of goals at this level."
Having spent much of their respective histories in the lower divisions, the Cobblers and the Grecians meet for the 106th time on Saturday.
Check out the head-to-head record of the two teams by clicking below.