Yes. The "275W" is the maximum power that the speaker can handle at its input.
The "120W" is the maximum undistorted power that the amp can deliver in the loud
spots with the volume wide open. So the amplifier will never overdrive the speaker.
The impedances of the speaker and amp-output should match. If one of them is
marked "4 ohms", then they both should be. If they're not the same, then . . .
-- the speaker may not sound as 'crisp' as it should.
-- the amplifier may not deliver as much undistorted power as it should.
-- the amplifier may not run as cool as it should.
-- with an extreme mismatch and extended loud spots played at high volume,
the amplifier may even be damaged.
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