Needs another season on loan judging by what a lot of Forest fans think. Wouldn't be averse to that, when you see how Davies rose and then fell back down to earth until he finds his level. It's a huge step up from U-23 football and only a tiny % manage it without some sort grounding at a level which bridges that gap first.
With Forrest not in with a realistic chance of being promoted, I quite like the idea of giving him a contract extension and loaning him out to a team fighting a bit higher up the ladder. Maybe even a prem team.
Then make the decision on what to do in 2019.