No. Not at all. They have nothing close to the pitching or offensive power and depth that the Red Sox, Rays, and Yankees all have stacked up on their rosters. That's 60 games where they'll be pretty heavy underdogs. I don't even think they can run with the Blue Jays.
Bottom line, the AL East is the best and toughest division in baseball, by far. The depth of pitching is astounding. In one division you have Beckett, Lester, Matsuzaka, Sabbathia, Burnett, Wang, Kazmir, Shields, Garza and potentially David Price as well. And those are just the starters. Never mind guys by the names of Papelbon and Rivera. The hitting is just as deep--Ortiz, Drew, Bay, Youkilis, Pedroia, A-Rod, Texiera, Longoria, Upton, Pena...
The O's have, at best, a mediocre rotation and line-up, and a bull-pen just as weak. They should be happy if they break 70 wins. It'll be impressive if they finish anywhere other than dead last.