Cooper bought more time for himself last weekend when his side earned a point at Wolves following a run of four straight defeats.
However, the Nottingham Forest boss is not completely out of the woods and the club owners have been worried about the direction the club have been going under him.
Nottingham Forest are said to have drawn up a shortlist of targets if they have to find a replacement for Cooper.
And it has been claimed that Nottingham Forest have already established contact with the camp of Lopetegui.
The Spaniard has been out of work since he left Wolves at the start of last season amidst differences with the club hierarchy.
Lopetegui is keen on getting back to management and is open to working in the Premier League.
For the moment, Cooper is still in charge and will take his team out against Tottenham Hotspur at the City Ground on Friday night.
