Team Wales say they will not revise their medal target for the Commonwealth Games despite injuries to some of their best competitors.
Wales' team has been set a target of 27 medals for Glasgow 2014 - eight more than they won in the 2010 Delhi Games.
"We are not going to revise the medal target immediately," said Davies.
"And potentially if at all."
Defending 400m hurdles champion Dai Greene has also questioned his chances of earning a podium place, as he battles back to full fitness for the Games.
Triathlon world champion Stanford has pulled out because of a stress fracture in her left ankle.
Two-time world champion James is the latest to pull out with a knee injury.
The 22-year-old Abergavenny cyclist aggravated it when she returned to training following a minor medical procedure.
On Friday, 27 June, she released a statement and explained that the injury followed a period of enforced medical rest.
"In May, I received abnormal results from a routine smear test and, following the biopsy results, I underwent minor surgery which I'm pleased to say was successful," she said.
"The surgery, however, meant taking two weeks away from my usual training regime.
"Following the rest, in an effort to make up for lost time, I aggravated a knee injury that will rule me out of the Games.
"I'm terribly disappointed I won't be competing in Glasgow. I still hope to be there cheering the team on and I wish the entire team the best of luck."
Davies said although he is "hugely disappointed" at James' absence, her health is the most important thing.
"You can ignore the Games themselves really for a little while," he said, "and we are just hopeful that she makes a full recovery because it's her health and well-being that's the priority.
"And all our team will be wishing Becky the best for a speedy recovery.
"Clearly somebody like Becky and Non Stanford before her, would have been medal favourites but we've still got a lot of talent in the team.
"I don't think we'll be amending any medal targets yet.
"We'll just be focusing on getting the environment right for the guys who will still hopefully win medals, so they can represent Wales with aplomb."