I don't think so, the D in your model name would denote that it has Differential feeding but is probably a 3/4 Marrowing stitch only. So this means it would do 3 thread overlock, 4 thread overlock and you can probably set it up for rolled hemming too.
Coverstitch is fairly new to home sergers and is available on some machines along with the 3 and 4 thread stitches, but changing between the regular overlock and a coverstitch takes a few minutes. The model number will usually have a "C" in the name. Also, during coverstitch the blades are disenaged and don't trim your fabric so you still need often to go back with blunt scissors and trim the raw edge.
And sewing coverstitch can be finicky, with skipped stitches a problem. Use high quality thread and XL (extra long) or SUX (stretch extra long) needles to avoid this.
However some manufacturers are now making dedicated coverstitch machines; if you are assembling a garment with your regular serger, you can then just move over to the coverstitch machine to sew the hems and necklines and not spend 20 mins changing over your machine's functions. Much more productive.
You may wish to check out the Brother 2340CV, this is their dedicated domestic coverstitch machine. Link to product info is http://www.brother-usa.com/homesewing/ModelDetail.aspx?ProductID=2340CV
In the meantime, best solution is a twin needle to stitch the hem from the right side of the garment on your regular sewing machine, looks much the same, and you can get twin needles with a 4mm or 2.2 mm gap and in stretch and sharp tips for less than $10 each. Just iron up the hem about 1.5cm deep, and thread up your sewing machine with the twin needle and two spools of same colour on top (I just wind an extra bobbin and use this plus the original thread spool rather than buy two spools).
Just sew really slow as the twin needle builds up a lot of heat and will break if you push it along. I use this finish on all my knit garments and it works just fine. Sometimes I'll iron in a 2cm strip of fusible web inside the hem to give it some firmness in a neckline, then twin needle stitch at about 1.7 from the folded edge.
Hope this answers your question.