Ferguson has led his side from League Two to the Championship in two seasons and sees no reason why his young side can't challenge for another promotion this time around.
He said: "I'm not the sort of manager to predict we will win the league, but it's important to have aims and ambitions.
"Burnley won promotion to the Premier League last season and I don't think our squad is a million miles from theirs.
"I certainly don't think relegation will be an issue for us as long as we are as focussed and determined as we have been for the last two seasons.
"Obviously we have taken a big step up in standard now as there are some big clubs in the Championship, but I fully expect us to surprise a lot of them."