I just upgraded to Cordova 5.1.1. Any XCode project that has more than one application target causes an error on build.
$ cordova build ios
could not find -Info.plist file, or config.xml file.
Steps to recreate:
1. Create a new Cordova project
2. Add iOS as a platform
3. In the XCode project, duplicate the application target to create a new target
4. Run "cordova build ios"