Yes, provided that the sermon is a testimony of the preacher's own life, i.e., if the preacher just corroborates the message of the Old Testament with his attitude influenced and marked by the message of the Tanach. And what can be the purpose of such a sermon? (a) to pay constant attention to "Moses and the Prophets"; (b) an effort to deposit the message of the Old Testament in one's own heart, to let the message form (transform) oneself, to become different, i.e., the purpose is to incite an action (attitude) and life consistent with the message, bearing testimony of its transforming power; (c) to create a community of the Lord's confessors living in the power of the received message of the Old Testament and in the power of listening to the Lord's statements, testifying about His actions.
In order for the preacher to achieve this objective, he needs to experience the Old Testament message in his own life, respect its nature and method of dealing with the topics; it needs to be based on analyzing the Hebrew original and should not add anything to or ignore anything in the text being interpreted.