According to manufacturers yes, but you have to use the correct board and a different mortar. Typically, if we run into a job that has cement board we will still install a wire lath and use the same mortar as we typically do. Using a wire lath is generally the most sure way of knowing that you will not have any troubles with the stone and also allows us to use the regular mortar instead of having to get a special mortar for those few jobs. For the exact manufacturer requirements, please see the veneer stone installation guide below for the correct cement board and mortar for your application.