That list is likely to include Hanover striker Mame Biram Diouf near the top following the narrow failure to sign him in August.
"We have a number of targets which we think are realistic and hope we can get over the line, but there are no guarantees," said Hughes.
"They'll be players who can help us on any given Saturday, not squad players. I don't need squad players, I've got plenty of them.
"If they all came to fruition then I'd be delighted and surprised. Some are out of reach, some are reasonable. That never changes.
"It's not a numbers game, it's a quality game. If we can get one outstanding player who can markedly change the dynamic of the team, then you go for one.
"There's only a certain amount of money available, that's fair to say. But I knew that. I know there's a figure to work with."
Asked if that figure was in the millions, he quipped: "I hope so."
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