I'm assuming you mean to do this with an unopened engine, i.e. no ported heads, etc. Many people have gone 11.8 - 11.9's on the stock turbo, engine, and intercooler. Some have gone slightly quicker.
With 20-22 pounds of boost, a good race ship, suffient octane, fuel, and spark...and a well-adjusted tune-up, yes...you can do it.