Both the Chairboys and Pompey are in the market to bolster their attacking options as they look to mount a promotion challenge in the upcoming 2022-23 League One campaign.
To do that, they may raid a divisional rival in the form of the U’s for Smith’s services following his goalscoring record last season.
Smith, who spent time on Manchester United’s books in his youth before moving on to Reading, netted 15 times for Cambridge in the third tier last season, appearing in all 46 league matches as both a centre-forward and on the right-wing.
Having signed a two-year deal at the Abbey Stadium last summer following his release from the Royals, the 24-year-old would require a transfer fee to secure his signature.
That is unlikely to seriously put off both Wycombe and Portsmouth though, who want to add more goals to their arsenal going forward.