Probably, but I have been riding motorcycles for 25 years and didn't get my first street legal bike til I was 24 years old. I just think that there is a lot of maturing during those years. Had a lot of friends hurt and worse during those years. Make sure he is comfortable before you let him go. You should know your son better than anyone. Once you are comfortable with him riding make sure he knows about how bad other people drive. This bike should be easily handled by a lot of people. Just learn the limitations of this size bike.
You could also consider the CBR500R. The issue is really not whether or not this bike is right for your teenage son, it is more if your son is ready for a bike at all. If he is, then just make sure you don't get him a crazy speed demon bike and you'll be alright.