A product of the Cardiff academy, he was a bit part player at the Welsh giants last season and is expected to leave the club this summer.
Several teams in League One are believed to be interested in getting their hands on the Cardiff academy product.
Oxford and Charlton are interested in him with Portsmouth also suggested to be chasing the forward this summer.
But those suggestions have been rubbished as nonsense and Pompey are not in the race to sign Davies ahead of the new season.
John Mousinho is looking at bringing in reinforcements and is interested in adding more goals and creativity to his squad.
But Davies is not a player the Portsmouth boss is interested in taking to Fratton Park in the ongoing window.
Portsmouth are looking at other targets and Davies is unlikely to end up at the club this summer.
Davies faces a season of limited playing time if he stays at Cardiff.