The Street Sense colt finished third in the Arkansas Derby (G1) in his most recent trip. Previously, he collected wins in both the Rebel Stakes (G2) on March 13 at Oaklawn and the San Vicente (G2) on Feb. 6 at Santa Anita.
News of Concert Tour being aimed for the Preakness was first reported by the Daily Racing Form.
The colt had qualified for the May 1 Kentucky Derby, but Baffert opted to skip the race, choosing instead to focus on the second jewel later in the month.
Baffert earned his seventh Kentucky Derby victory on Saturday with Medina Spirit.
Because of an upcoming suspension of services by Tex Sutton Equine Air Transportation, Concert Tour and Medina Spirit will have to be vanned next week to Pimlico.