Darren Anderton thinks Tottenham can finish in the top four this season as they have a "very strong squad".
Spurs have been in fine form since Tim Sherwood replaced the sacked Andre Villas-Boas, winning five of their last six Premier League games to move level on 43 points with fourth-placed Liverpool.
They were knocked out of the FA Cup by London rivals Arsenal in the third round, but responded by securing back-to-back league wins over Crystal Palace and Swansea.
Emmanuel Adebayor, who was frozen out of the first-team picture during Villas-Boas' reign, has spearheaded Spurs' revival since Sherwood recalled him to the forward line, scoring five goals in his last eight starts.
Jermain Defoe has agreed a deal with Toronto FC and will officially join them at the end of February.
And Anderton feels Spurs will be well placed for a top-four finish if they add a new central defender and striker to their squad during this month's window.
The former England and Tottenham winger told Sky Sports: "When it comes down to it, it's all about the squad - and Spurs have got a very strong squad with lots of talent and lots of quality players.
"There's a new buzz about the place, there's lot of positivity - and they're playing good football.
"Of course Emmanuel Adebayor has come back in - that was a masterstroke by Tim (Sherwood) to get him back on board and playing well. At the moment they look like a very good team."
Spurs were active in the summer transfer window, selling Wales winger Gareth Bale to Real Madrid and buying the likes of Paulinho, Roberto Soldado, Erik Lamela and Christian Eriksen.
Anderton added: "It's all about maintaining what they've got, really. Maybe they could do with another centre-back and maybe another centre-forward.
"Jermain going was a disappointment for me as he's a player I've always liked - but fair play to him, he's gone for a fresh challenge.
"If Adebayor or Soldado pick up injuries, they could be struggling for goals."