No. Lithium batteries do not have the same power profile as Alkaline batteries. This will give your COBRA device a false sense of power until the lithium battery is depleted, at which you will receive little to no notice that you have low power on your device.
Below is a chart showing the time vs voltage output of a standard Alkaline battery. The power output lessens over time allowing the COBRA system to provide you with clear and accurate battery readings from P9 down to P0.
When compared to a lithium battery, the voltage drop over time is almost non-existent, providing the COBRA system with no warning that the battery is almost depleted.