Yes but you don't have to rush on it. If that is a grafted tree you will need to varify that the grouth shoot is coming out above the root stock. If the shoot is coming out below the graft then you have a near worthless tree unless you know how to graft and know where to get a twig from a tree you like for grafting. However peach trees grow so fast you can buy a new tree and have fruit sooner than you'll fined out if your graft is solid.

Poncirus A. Guy

First off, you're posting on the Citrus Forum. You really should be posting this question over on the Fruits & Orchards Forum. But, to answer your questions, NO. Check, first, to see where the growth is emanating from. If these are root suckers, or branches emanating from below the scion graft, this is rootstock. We cannot tell by your photo where those branches and leaves are emanating from.

Patty S.