There's no right or wrong answer - it all depends on what works best for each individual person.
Some people naturally need more sleep than others, and teenagers tend to need more sleep than adults. So if your daughter generally feels good and function well after getting eight or nine hours of sleep, then letting her sleep until 2 pm probably won't have any negative consequences.
However, if she usually only gets six or seven hours of sleep and sleeping in until 2 pm makes her feel groggy and tired throughout the day, then it's probably not a good idea. In that case, she should try to go to bed earlier so that she can get more restful sleep.
If she wants to get good grades in school and maintain a high level of productivity during the day, then she should try to stick to a more traditional sleep schedule. However, if her goal is to simply relax and not worry about school or other responsibilities for a day, then sleeping until 2 pm would be fine.
Each person's body clock is different, so it's important to find out what works best for her own individual body and lifestyle. Some people naturally function better later in the day, while others are more productive in the morning.