The 24-year-old is currently on loan at League One outfit Sheffield Wednesday, and has made an impressive start to life at Hillsborough, picking up the Owls’ player of the month award for August.
More recently, the stopper has been away on international duty with Northern Ireland, and has caught the eye with penalty saves in each of his last two World Cup qualification appearances.
The Turf Moor talent was on hand to help his side earn a hard-fought point against Switzerland on Wednesday evening, and speaking after that match, ex-Northern Ireland attacker Ward heaped praise on the keeper.
Speaking to Sky Sports, he said: “He’s turning the corner because he’s playing games. Obviously he’s done his homework with the penalties.
"All those situations working with [Northern Ireland goalkeeping coach] Roy Carroll will be great for him. Obviously he’s got a lot of experience in football – highs, lows. He’ll know what Bailey’s been through, through not playing games.
"Now he [Peacock-Farrell] is playing games, I think we’re seeing the best of him.
“When asked whether Peacock-Farrell had the potential to make a name for himself in the Premier League, Ward added: “He’s got it in him, definitely.
“He’s a big, imposing figure and I don’t see why a Premier League team wouldn’t want him in goal.
“He’s got a big challenge ahead of him to get Nick Pope out and those guys in front of him. He’s capable of it, he just needs to put his mind to it and more importantly he needs to focus on the here and now and Sheffield Wednesday in the forthcoming season.”