Davies collected his fifth booking of the season after 20 minutes of Saturday's topsy-turvy 5-4 defeat at Peterborough.
Benik Afobe and Marvin Sordell are in the frame to replace Davies in attack, although boss Dougie Freedman will also run the rule over David Ngog.
The former Liverpool striker came off the bench to score both goals in Wanderers' last outing at the Reebok Stadium - a 2-0 win over Charlton - but, having suffered with hamstring trouble throughout the season, was an injury absentee once more at London Road.
Whether Ngog is suffering from a recurrence of his previous problems is unclear, although Afobe and Sordell impressed as substitutes during Bolton's second-half fightback on Saturday.
On-loan Arsenal youngster Afobe scored their third goal, while winger Martin Petrov also came off the bench to set up a grandstand finish with number four and could also come into Freedman's thoughts from the start.
Marcos Alonso is favourite to come in at left-back after Stephen Warnock's return to Aston Villa at the end of his loan spell.
Defender Matt Mills (thigh) and midfielder Mark Davies (shoulder) remain on the sidelines alongside knee-injury victims Stuart Holden, David Wheater and Josh Vela.