However, the Scot has yet to identify potential targets who he is confident would have the commitment and fitness to play their part in the club's promotion challenge.
"A couple of new signings right now would certainly freshen things up, but do we go and sign a player who has not played in 10 months just because we need a left-back?" said Davies.
"I am wary of certain types of players coming in. There is nothing imminent at the moment. There are names we are looking at but we have to be careful."