Coca-Cola's (KO) localized business operations make the tariff impact "manageable" for the business, RBC Capital Markets said in a note Wednesday.

According to the firm, the localized nature of the business should be viewed as "unique" in a relative sense.

Coca-Cola's recent quarterly results also underscore the company's ability to overcome a difficult macro environment and brand-specific headwinds, RBC Capital said.

Coca-Cola on Tuesday reported comparable earnings of $0.73 per diluted share on revenue of $11.13 billion for the quarter ended March 28. Analysts polled by FactSet expected $0.72 on revenue of $11.16 billion.

The company also said it continues to expect 2025 comparable EPS growth of 2% to 3% and organic revenue growth of 5% to 6%.

"This print reaffirms our confidence in [Coca-cola's] fundamentals, and we believe they have the flexibility to deliver on 2025 guidance," RBC Capital said.

The firm maintained its outperform rating on the stock and raised its price target by $3 to $76.