From the rules:

Eligible Early Ford makes and models:
1979-95 Ford Mustang 5.0 V8 including 1993-1995 Cobra (1993 and 1995 Cobra R models excluded)

If it came factory stock on the 1993-1995 Cobra (not Cobra R model) it's likely CMC legal (unless otherwise stated in the rules.)

So your assumption is correct, John.

-=- T