And Davies, who impressed during his recent loan spell, could return either permanently or again on loan before Saturday's match against Ipswich.
Meanwhile, Chris Day is joining Preston on loan.
Day, whose contract expires in the summer, has been frozen out by the recent arrivals of Simon Royce and Generoso Rossi.
Italian keeper Rossi is now able to play again after serving a ban for being involved in a betting scandal and will feature for the reserves next week.