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SN74LVC4245A: CAN use as 3.3V to 5v converter

Part Number: SN74LVC4245A
Other Parts Discussed in Thread: SN74LVC8T245,

Hello,

I want to use 74LVC4245A for one of my project for converting 8 signals from 3.3V into 5V level.

Please find the attached image.

Can I use this for my application? Also  I need to control 2 MHz VSPI &HSPI clk and data lines,is it possible by using the same ic?

Kindly check it and let me know your comments. please consider this as an urgent case.

Warm regards.

Monisha OM