Background: Students who transfer from community colleges in pursuit of four-year degrees (i.e., upward transfer students) represent a diverse and talented group that is critical to advancing gender equity in STEM. However, research has not yet explored factors that promote Ph.D. aspirations among upward transfer computing students, resulting in missed opportunities to support this unique group. Objective: We examine the predictors of upward transfer computing students' Ph.D. aspirations, focusing on how these patterns might be unique for upward transfer women. Method: Relying on longitudinal survey data from upward transfer students across 15 research universities, we use logistic regression with interaction terms to identify the predictors of Ph.D. aspirations. Findings: We found that Ph.D. aspirations were especially frequent among upward transfer women, 14% of whom aspired to earn a Ph.D. Other results highlight the importance of faculty encouragement for graduate study in predicting all upward transfer students' Ph.D. aspirations. Beyond the direct role of such faculty encouragement, "perceptions" of computing faculty uniquely predicted Ph.D. aspirations for upward transfer women. Implications: Our findings provide insight into how to bolster more equitable access to faculty mentorship, support students throughout the transfer process, and create inclusive faculty policies, which impact students' perceptions of academia.