not sure what you are calling a "cobra" - I'm guessing the outdrive? it'll fit, but some 3.0 cobra outdrives used the "400" sized lowers with a 13T propshaft spline - not going to last long over 140HP.. Then, the last few years , OMC beefed it up and used the larger gearcase for the 3.0
But either will have the wrong gear ratio and it will probably not be fixable with prop pitch