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Buy these two chemical stocks, Citi Research says

Traders work below a board displaying the Dow Chemical logo on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters

Citi upgraded shares of Dow Chemical and DuPont to buy from neutral on Friday, citing a slew of benefits from the potential merger between the two companies.

"We view both stocks as execution and strong self-help stories as both companies have delivered so far in implementing their individual cost-cutting programs and the proposed Dow-DuPont merger could take those cost reductions even higher," wrote Citi equity analyst P.J. Juvekar in a research note.