The England U-21 international has been inexcellent form for the Championship side of late, helping them to the top of the table after 19 games.
His displays have alerted a number of clubs, including Brendan Rodgers’ high-flying Liverpool.
However, the Reds may have to see off interest from Celtic if they are to swoop for Ings next month.
The Hoops have been watching the forward closely over the course of the past few weeks, and are said to be keen to lure him north of the border.
However, the Glasgow giants may be unable to push through an agreement due to Burnley’s valuation of their man.
Ings is set to command a fee in the region of £5m-£10m due to his top form, which is believed to be out of the reach of the Bhoys.
Liverpool can easily afford such a fee, and may move for the 21-year-old as cover for star strike pairing Luis Suarez and Daniel Sturridge.