Investing.com -- Ball Corporation (NYSE: BALL) could benefit from strong energy drink demand and World Cup-related beverage consumption, according to Wolfe Research following recent channel checks.

Energy drink volumes remain in the high single-digit to low double-digit percentage growth range, varying by brand and region. Distributors expressed increased optimism for Celsius and Monster compared to Red Bull, which plans to raise prices in August.

Beer distributor feedback was mixed, affected by poor Memorial Day weather and challenging convenience store conditions as gasoline prices pressure consumer spending. Constellation Brands appears to be performing well, which should benefit Ball, while Molson Coors showed weaker trends and Anheuser-Busch InBev results were mixed.

The FIFA World Cup could provide a low single-digit percentage volume increase, with promotional activities already underway. Ball's customer portfolio shows stable trends that should ease investor concerns about potential headwinds from major beer brands.

The firm noted that Ball's recent commentary on second-quarter volumes aligns with channel checks showing mid-single-digit percentage volume growth. South American trends are now offsetting first-quarter weakness, partly due to World Cup effects, while European momentum appears set to continue into the second half of the year.

Wolfe highlighted that U.S. beverage can suppliers would benefit from advancement of teams including the United States, Spain, Portugal, Scotland, England, Brazil and Argentina in the tournament.