Coca-Cola (KO) is set for solid Q2 results, backed by strong trends in North America and favorable international comparable sales, RBC Capital Markets said in a Friday note.

Coca-Cola is set to release its Q2 results on July 28.

The company's tracked channels indicate strong and potential upside to North America estimates, supported by bottlers' robust sales trend, the investment firm said. World Cup activation and incremental occasions should also buoy on-premise sales, RBC added.

For the international segment, Coca-Cola is lapping a number of temporary volume headwinds in Q2 given the volume softness last year related to weather issues and geopolitical conflicts in certain overseas markets, the brokerage said.

There is upside to guidance but management is likely to remain conservative amid macro uncertainties, RBC noted.

RBC kept its outperform rating and $87 price target on Coca-Cola.

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