Wolves are trailing prolific Huddersfield striker Jordan Rhodes, according to a report.
Rhodes has 27 goals in 25 matches in League One so far this season and has attracted the interest of several clubs, particularly West Ham United in January.
However, Huddersfield manager Lee Clark was keen to hold on to his prized asset as his side battle for promotion to the Championship.
Huddersfield currently sit in third place with 55 points, just two points behind second-placed Sheffield Wednesday.
It is believed the striker has been watched by Wolves scouts recently but, with the close of the January transfer window, the earliest a move could possibly happen would be the summer, according to Mirror Football.
Any potential move could also ride on whether Mick McCarthy's side remain in the Premier League this season.
Wolves sit one place above the relegation zone in England's top flight, a point more than 18th-placed Bolton.