The Bolton striker has been suffering with a hamstring problem during the New Year period and an attempted comeback in Saturday's FA Cup tie at Ipswich Town lasted all of 25 minutes.
Davies will not be rushed into a first team return until his injury has healed properly but has stated that he will have one eye on the Reebok clash with Arsene Wenger's Arsenal team.
"I had a fitness test and was OK but I just felt it in the game. It's a bit of a setback for me really. I'm going to see how it is this week. Obviously there is a big game against Arsenal coming up and however long it takes I have just to make sure it's right." he told the Manchester Evening News