The striker has made two brief substitute appearances since joining on loan from Middlesbrough, but Davies insists there is much more to come from the former Rangers man.
"You can see Kris' touch, you can see he has brains and there is no doubt he will score us goals," the Forest boss told the Nottingham Post. "He has done it throughout his career. At the minute, he is just a week or two away from match sharpness.
"He had not played in a month and he is now having to hit the ground running.
"He is a very important player for where we are trying to get. You can see that, if we can get a better quality of cross into the box he will score us goals."
Boyd scored over 100 times for Rangers but has struggled to make an impact at the Riverside, netting just six times in 29 appearances.