Yes, but even a moderate increase in target speed dramatically reduces the range of the missile, along with increasing the time for the pilot to react. Small missiles do not travel at a constant speed. They hit top speed the moment their motor burns out and then coast. By the time they are near their effective range they may be moving slower than the target. If the missile has to chase the aircraft (all shoulder-fired/IR sams) a faster aircraft will be able to remain lower and still out of effective range despite being slower than the missile's max speed.