The 23-year-old's future at Pompey is in doubt and he has been linked with a move away from the club, in numerous reports, after he failed to feature in Harry Redknapp's team choice last season.
Town are keen on signing the former Preston striker, while Premier League new boys Hull and Stoke have also been reported to have an interest in Nugent.
Nugent has ruled out a move to the Championship, therefore ruling out a move to Ipswich. Instead, he wants to prove he can hold his own in the Premier League.
Nugent told the Sun: "I want to stay and prove I can cut it in the Premier League."