Leinster's 18-8 victory at Sandy Park, which keeps the Irish province at the top of Pool 3 with a 100 per cent record, condemned the Chiefs to their first home defeat in a year.
Baxter's side scored with a first-half penalty from Gareth Steenson, before James Short crossed superbly after half-time, but tries from Johnny Sexton and Jack Conan ensured three-time European champions headed home with the points.
And Baxter gave an honest assessment of his side's showing, saying: "I've got no complaints about the result, Leinster came here and did very well.
"They potentially played better than we did and deserved the scores they got. When we win games, I like to think its because we deserve it and tonight we probably got the result we deserved.
"The challenge this week is to now try and improve our performance, more than Leinster can improve their performance. We are not in any doubt we can play better than that, just purely through catching and kicking the ball better, and alongside a couple of other things around the set-piece and a couple of things around our five-meter pressure, I'm pretty comfortable."