Colorado activated Davis (elbow) from the 15-day injured Thursday and optioned him to Triple-A Albuquerque.
Davis has moved past the right elbow inflammation that sent him to the injured list April 30, but the Rockies will keep him on the farm for now. He tossed four scoreless innings on 58 pitches in a rehab start Wednesday with Albuquerque. The 26-year-old had struggled to a 6.17 ERA in three major-league starts (11.2 innings) prior to the IL stint.