don't see why not , just need a new barrel , and a different detatchable magazine ( probably one for a .257 roberts or 6mm remington ) as they're the roughly the same length cartridge as the 5.6x55 swede .
a better place to ask this would be in the semi auto and pump action rifle forum , there are a lot of knowledgable people there in regards to the 7600 rifle and the sportsman 76 is the same rifle just a very plain version .