The West London outfit were close to being relegated back to the Championship last season but Ferdinand is confident that the likes of Andy Johnson, Park Ji-Sung and Junior Hoilett will launch the R's up the table.
"The quality the gaffer has added to the squad is already showing," Ferdinand told the club's official website. "We've seen glimpses of what the new lads are capable of.
"As I've said before, the target this season is to establish ourselves as a Premier League club. If we can achieve more than that, which we are more than capable of, then we'll all be delighted.
"We'll look to start the season as positively as we can do and get as many points on the board as is possible early on."