from AllahYes. It is highly recommended to recite Quran and do good deeds on behalf of the Prophet (SAWA) and his Holy Progeny. Our great Ulama advise to recite Quran daily and gift the reward of it to Imam Al-Mahdi (AS). You will then get greater reward and more generous gifts from him.
It should be noted that reward of reciting Quran or any good deed can be gifted not only to the deceased ( Marhoumeen) but also to the living persons.
Wassalam.